BUDGET POINTS

New Zealand Times, Volume XLIII, Issue 10137, 27 November 1918, Page 4

BUDGET POINTS

A SUMMARY THE YEAR’S OPERATIONS. For the convenience of the House and of the general public, the Minister for Finance (the Right Hon. Sir Joseph Ward) summarised as follows last night the most important items relating to the financial operations of the Treasury: War loan moneys raised in the Dominion, as at ‘ September " 30 th, had reached a total of approximately £30,250,000; approximate cost of raising, one-half of 1 per cent. Investments in London increased to £17,869,912, as at September 30th, 1918. Ordinary revenue reserve increased to £9,570,380, as at March 31st, 1918. Redemptions and renewals effected amounting to £3,361,756. £1,930,950 converted into long-dated securities. Net surplus of year’s revenue, £5,035,934. Total accumulated surplus on March Slst, 1918, £11,560,788. Total lodgments to Public Account, year 1917-18, £66,800,000, as compared with £17,000,000 for the year 1913-14. Total disbursements from Public Account, £65,000,000 for 1917-18, as compared with £17,100,000 for the year 1913-14. Customs revenue, £434,308 above estimate. Public works expenditure reduced to £1,141.172. Income tax receipts increased by £1.357,435. Land tax receipts increased by £672,590. Stamp revenue increased by £192,979. ' Excess of Post Office Savings Bank deposits over withdrawals, £2,645,360. Eighteen settlements purchased for discharged soldiers, making a total area - of 394,219 acres thrown open and available for settlement. £190,911 authorised for soldier settlers by way of financial assistance. Seventeen thousand one hundred and seventeen war pensions granted to March Slst, 1918, representing an annual value of £1,122,052. Total payments to producers for supplies purchased on behalf of the Imperial Government, £59,211,190. War expenditure to September 30th, 1918, £51.400.000. NEW PROPOSALS AT A GLANCE. He also placed in the following concise form the new’ proposals submitted to hon. members: —■ Establishment of Post Office Savings Bank reserve fund. . Authority to borrow additional £200,000 for afforestation purposes. £150,000 to be provided for Government hydro-electric schemes. Local bodies to bo empowered to develop water-power. Increased war bonus and payments to Government employees. £300,000 to bo, provided for school buildings, etc. £1,600,000 for war pension^. Authority to si nxaise.' 3) additional £10,000,000 for war purposes. Public works loan, £2,500,000. Loan for soldiers land settlement, £1,000,000. Assistance to soldiers, £500,000. Educational, curative, and vocational training to be provided for. Provision to be made to meet expenditure necessitated by influenza epidemic.