PUBLIC ACCOUNTS

Otago Daily Times, Issue 23529, 18 June 1938, Page 13

PUBLIC ACCOUNTS

RETURNS FOR THE YEAR DETAILS OF RECEIPTS INCREASES IN ITEMS The abstract of the revenue and expenditure of the public accounts for the last financial year, which has just been published as a supplement to the Gazette, gives a comparison of returns during the year with those of the previous year. Taxation returns show a considerable increase, but interest receipts a decrease. As announced by the Minister of Finance (Mr Nash) recently, the surplus for '.he year was £BIO,OOO. The year was commenced with * a credit balance of £928,665 and securities amounting to £30,000. Revenue Details of taxation returns are as follows: — 1937-38. 1936-37. £ s. d. £ s. d. Customs .. 10,758,732 19 6 9,499,254 5 5 Beor duty 978,437 5 3 841,584 9 9 Sales tax .. 3,499,130 II 2 3,044,612 10 6 Film-hire tax 82,377 S 5 72,208 16 8 Gold export duty .. 105,412 8 7 108,798 « 2 Highways .. 2,838,710 11 10 2,503,111 3 7 Stamp and , death duties .. 8,240,139 9 8 3,162,502 0 10 Land tax .. 1,038,033 13 10 1,047,877 0 0 Income tax 9,078,762 15 10 6,618,715 12 3 Miscellaneous 44,692 18 4 42,185 5 0 Totals .. 31,604,429 17 5 26,940,844 10 2 Interest receipts amounted to £2,141,364, compared with £2,387,117 during the previous year, but other receipts totalled £2,253,648 against £1,819,224 in the previous year, thus making a total of £37,018,108, compared with £31,626,822 for 1936-37. Treasury bills issued amounted to £7,400,000, bringing the receipts to £44,418,108, compared with £44,639,551 in the previous year, the additions to the total for 1936-37 being from moneys secured under the New Zealand Loans Act, 1936, the State Advances Corporation stock, and the Finance Act, 1930 (repayment of advances to Native Trustees), Expenditure The main items of expenditure were:— £ Debt services .. .. .. 9,440,783 Exchange 1,827,677 Highways .. .. .. .. 2,835,177 Social services .. .. .. 11,872,318 Other permanent appropriations .. .. .. .. 1,517,000 Other votes 7,756,000 A total of .. .... .. 85,248,621 Treasury bills redeemed .. 7,400,000 Balance at end of year .. 1,171,329 Securities held ... .. .. 598,157 Grand total .. .. £44,418,108