DOMINION FINANCE

Otago Witness, Issue 3384, 22 January 1919, Page 41

DOMINION FINANCE

A SATISFACTORY REVENUE. The Hon. Arthur Myers, Acting Minister of Finance, has furnished the regulav monthly returns showing the revenue and expenditure for the nine months ended December 81, 1918, as compared with the similar period of 1917; also revenue for the months of December 1918 and 1917, and the 12 months ended December 81, 1918, as compared with the similar period ending December 31, 1917. Commenting on the figures, Mr Myers stated that the revenue for the nine months ended December 31 showed an increase of £1,551,271 over the corresponding nine" months of the previous year. "It will be noticed," said the Minister, "that practically all sources of revenue show an increase. A large amount of increase is shown under the heading of miscellaneous, and this is attributable, to a very large extent, to the interest received on investments in England. " The return of expenditure for the nine months ended December last shows an ?n----creaso of £2,937,830 dyer the corresponding period of the previous year, so that it will be seen that the increased expenditure exceeds the increased revenue for the period. " The increased is. chiefly accounted for by the additional charges for interest and sinking fund, pensions, etc. " In view of the fact that the remaining three months of the year are good revenueproducing months, and also in view of the fact that income tax is payable in February, I think it is safe to anticipate that the ordinary revenue account at the end of the year will show a satisfactory balance. "The statements attached regarding the Public Works' Fund show that there has been a decrease in the expenditure in the nine months as compared with the corresponding nine months of the previous year amounting to £16,689. REVENUE. Statement of the revenue for the nine months ended December 31, 1918, compared with the revenue for the nine months ended December 81, 1917: —

Statement of the revenue for the year ended December 31, 1918, compared with the year ended December 31, 1917:

£21,757,493 £18,531,571 increase for the year 1918 £3,225,922

EXPENDITUEE

Statement showing the expenditure for tho nine months ended December 31, 1918, compared with that for the corresponding neriod in 1917:—

Totals £13,166,171 £10,328,311 Increase during niuo months ended • December 31, IDIB £2,837,830 PUBLIC •WORKS FUKD. Statement showing the position of the Public Works Fund from April 1, 1918, to December 31, 1918:

Nine Nine month 8 months ended ended Dec. 81, Dec. 81, 1918. 1017. Customs ... ... ... £2,695,986 £2,424,913 Stamp and death duties ... 1,469,442 1,250,157 Postal and telegraph 1,490,600 1,320,839 Land tax • 1,408,330 1,114,057 395,077 '313,376 Beer duty 191,689 163,093 Railways 3,339,176 ' 3,176,390 Registration- and other tees 68,557 63,232 24,492 26,356 Miscellaneous 753,717 " 470,808 Territorial 112,960 115,678 National endowment revenue 108,824 100,493 Other receipts 40,924 10,111 £12,099j774 £10,548,503 Increase ... . £1,651,271 Total revenue for the month of Decern ber, 1918 £3,005,682 Total revenue for the month of Decern 2,686,855 Increase ... £318,827

Year Year ended ended 1 Dec. 31, Dec. 31, 1018. 1917. Customs £3,635,381 £3,350,825 Stamp and death duties ... 2,111,298 1,693,716 Postal and telegraph ... ... 2,006,017 1,884,819 Land tax 1,679',981 1,173,280 5,702,262 4,491,813 Beer dutj r 265,671 • 215,443 Railways 4,831,009 4,534,148 Registration and other lees 106,574 99,356 86,189 38,472 Miscellaneous 1,001,346 702,360 Territorial — 202,925 206,788 National endowment revenue 108,824 100,493 Other receipts 70,015 40,058

Nine Nine months months ended ended December December 31. 1918. 31, 1917. Permanent Charges: Oivil list £ 19,074 £ .18,828 Interest and sinking fund 6,164,015 2,965,092 Under special Acts 1,817,441 1,880,549 £7,000,530 £4,364,469 Annual Appropriations: Legislative . £ 23,114 £ 3,283 Finance Departments 103,928 79,603 Post and Telegraph 906,160 866,507 Working railways 2,318,751 2,144,516 Public buildings, etc. 71,052 66,799 Native Department 18,609 17,390 Justice Department 332,227 315,963 Mines Department 28,721 18,969 Internal Affairs 168,695 ' 173,669 Mental hospitals and publio health 193,384 172,375 Tourist Department 34,346 30,14-1 Defence Department 266,622 294.520 Customs and Marine 118,632 110,750 Department of Labour ... 22,913 22,181 Lands and Survey 134,550 112,907 Valuation and Electoral ... 33,130 31,480 Agriculture, etc. ... :.. 170,469 336.748 Education 1,184,519 1,134,070 Services not provided for 36,849 2,707 £6,165,641 £5,963,872

Balance on Receipts Expenditure Balance April 1, 1918 December 31, 1918... , 295,539 . 737,100 1.622 70S .639 ,052 £820 .587