REVENUE RETURNS

Southland Times, Issue 21661, 24 March 1932, Page 7

REVENUE RETURNS

BRITISH FINANCES DEFICIT GRADUALLY . . SHRINKING THE LATEST FIGURES (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, March 22. With eight more working days before the financial year ends on March 31, the revenue returns to March 19 show a deficit on the national accounts of only £19,400,000 compared with £34,800,000 the corresponding date last year. The revenue in a week amounted to £24,700,000 and the expenditure to £19,900,000, making the surplus in a week £4,800,000. Income tax receipts have already exceeded the revised Budget estimate of £272,000,000 by over £5,000,000, and surtax receipts by £2,000,400. On the other hand estate duties and stamps together are £2,100,000 behind last year’s receipts to date, although the Budget estimated that the receipts in a year would be about the same total as last year. Customs and excise revenue together is about £10,000,000 over last year’s receipts to date compared with the Budget estimate of a £7,500.000 increase in the year. The supply expenditure to date is about £11,000,000 in excess of last year’s compared with an estimated increase of £22,500,000, indicating substantial economies. The floating debt amounts to £609.000,000, a reduction of £3,500,000 in a week.

The Daily Express calculates the Budget surplus at £10.000,000.