PUBLIC ACCOUNTS

Otago Daily Times, Issue 23106, 4 February 1937, Page 10

PUBLIC ACCOUNTS

FIGURES FOR NINE MONTHS LARGELY INCREASED TAXATION MINISTER'S SATISFACTION WITH RESULTS (Per United Press Association.) WELLINGTON, February 3. The public accounts for the nine months ended December 31 have s? Jtsr Ai ass ££ 7Mr M J Savage) drew attention to the satisfactory position which for the nine months totalled £ 18,587,000 compared with £16,079,000 received during the corresponding period of the last financial The increased revenue arose principally in resperf of Customs duties, land tax and sales tax, as is shown by the following

•Signifies decrease, the SlfeS^ ssaa w» ofTeceipt<"tofdaTe compared with that of the previous financial year iS b l n ng rega e rd Mr Savage stated that the total for nine months of was £2,215,000 less than the relative proportion of the Estimates, as follows:

* Signifies under-expenditure. "This apparently substantial under-expenditure," Mr Savage stated. " is subject to the qualification that certain payments by imprestees have not yet been brought to charge and the fact that grants and comparatively large items o:E that nature are in practice heavier towards the end of the financial year than at the beginning Moreover, the increased pensions and salary restorations, which were effective during the latter half of the year, naturally affect comparisons on a proportional basis. Even after making due allowance for these factors, however, it is evident that the total expenditure is being kept well within the appropriations. The over-expenditure in respect of permanent appropriations is the result of certain payments having been made in advance. It is not anticipated that there will be any over-expenditure by the end of the year. "Although we have now entered upon the last quarter of the financial year," Mr Savage concluded, "it is too early to form any definite conclusions regarding the outcome of the year's operations, particularly when such an important item of revenue as income tax is still in abeyance The present indications are, however, entirely satisfactory, and, based on previous experience, I have every reason to anticipate that the final figures for the year will disclose a satisfactory position."

statistics: — TAXATION Percentage Percentage Of ol Receipts Receipts to Dec. 31. to Dec. 31 1935, to 1936, to To Dec. 31. To Dec. 31, Total Estimated Revenue Revenue 1935. £ 1936. £ Increase. £ for 1935-36. ior 1936-37. Stamp and death duties Other taxation . - Other receipts .. •• 5,961,000 518,000 1,838,000 1,459,000 2,090,000 433,000 1,147,000 7,126,000 607,000 2,262,000 1,867,000 2.378,000 987,000 933,000 1,165,000 89,000 424,000 408,000 288,000 554,000 •214,000 2,714,000 •87,000 •119,000 2,508,000 73 72 75 69 74 94 24 62 55 60 61 78 79 78 74 74 76 15 62 56 40 60 13,446,000 1,497,000 1,136,000 16,160,000 1,410,000 1,017,000 16,079,000 18,587,000

PERMANENT APPROPRIATIONS Proportion of appropriations. £ .. 6,944,000 .. 1,884,000 .. 1.091,000 465,000 Expenditure to Dec. 31,1936. , £ Overexpenditure. £ Debt services Highways Exchange .. Other services 6,992,000 1,864,000 1,289,000 525,000 48,000 *20,000 198,000 60,000 Totals .. 10,384,000 10,670,000 286,000 ANNUAL APPROPRIATIONS £ •1,318,000 •1,183,000 •2,501,000 Social services Other votes Totals £ 7,863,000 .. 5,050,000 .. 12,913,000 6,545,000 3,867,000 10,412,000 Total expenditure .. 23,297,000 21,082,000 •2,215,000