DOMINION FINANCE

New Zealand Times, Volume L, Issue 11648, 12 October 1923, Page 4

DOMINION FINANCE

SIX MONTHS’ REVENUE MINISTER SAYS NEARLY A MILLION TO THE GOOD. REVENUE AND EXPENDITURE. An interesting statement with regard to Ihe financial position of the Dominion during the past half-year, as compared with the first half of the financial year, 1922-23, was made yesterday by the Acting-Finance Minister, the Hon. W. Downie Stewart. The following, stated the Minister, is a statement of revenue and expenditure for the six months ended September 30th, 1923, as compared with the same period for 1922 REVENUE. The revenue shows a net increase of £516,026. The principal increases are —Customs, £813,873; income tax, £104,536. The decreases are—Post and Telegraphs, £135,055; stands, £25,740; interest on public moneys and miscellaneous, £339,441. The last-named decrease is mainly due to the fact that interest lias not been recouped this year from the Discharged Soldiers’ Settlement Account, the monfey being required in the account for re-issues and advances. EXPENDITURE. The total expenditure for the five months is £405,499 less than for the same six months of 1922. Under the heading of permanent chargee the interest and sinking fund is slightly increased by £15,021; but under “Special Acts” there is a reduction of £12,483. DEGREASES. Under the annual appropriations the reductions in expenditure are fairly general in all departments, the principal decreases being—Railways. £283,858; Pest and Telegraph, £27,483; health. £45,546; industries and commerce (w'heat, nominal), £65,637. INCREASES. The main increases are—Pensions, £22,825; printing office (nominal), £73,923; mental hospitals, £10,502, naval defence, £40,663; lands and survey, £20,900; education, £99,347; defence, £18,252. Taking the net increase in revenue and decrease in expenditure, the position is £921,525 to the good, as compared with the same six months of 1922.