£100,000 SURPLUS

New Zealand Herald, Volume LXXIV, Issue 22687, 27 March 1937, Page 10

£IOO,OOO SURPLUS

NATIONAL ACCOUNTS ESTIMATE BY MR. SAVAGE YEAR A SATISFACTORY ONE [BV TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Friday A surplus of £IOO,OOO in the national accounts appears to be assured for the financial year ending on March 31. This prospective result has been announced by the Prime Minister, Mr. Savage, as acting-Minister of Finance, prior to his departure for England. Mr. Savage said he had arranged for preliminary estimates of national finance for the closing financial year to be taken out before he left for England, and he was pleased to be able to announce that a surplus would be recorded.

"It is very gratifying, on the eve of my departure," said Mr. Savage,, "to be in a position to announce this result. It is, of course, impossible at this stage to indicate exactly what the completed accounts will disclose, but from particulars which have been submitted to me I feel justified in saying that the revenue for the year will exceed the expenditure by approximately £100,000."

Mr. Savage added that the estimates taken out at the beginning of the year had been very closely adhered to, indicating that the Government had maintained effective control over finances. "It is clear," he said, that the year has been a satisfactory one, both from the point of view of the public accounts and business conditions generally. In fact, the year has been one of ~ substantial improvement in the material well-being of the whole community."