STATE FINANCES.

Taranaki Daily News, 31 October 1921, Page 7

STATE FINANCES.

SHRINKAGE IN REVENUE. - The revenue and expenditure of the Consolidated Fund for the second quaxter (September) of the current financial year are published in. the Gazette issued on Wednesday. The figures for the quarter compared with the corresponding quarter of last year show as follow : Revenue. 1921. 1'920. £ £ Ordinary ... 5,04'3,569 6,303,809 Territorial . 65,983 83,846 5,109,552 6,387,655 Recoveries .. 5118 987 5,114,670 6,388,642 Expenditure. Permanent .. 2,377,828 2,507,711 Departmental 3,867,950 4,052,447 6,24'5,778 6,560,158 The revenue shows a contraction ot £1,273,972, and the expenditure a shrinkage of £314,380; that is to say, the shrinkage in the revenue is four times that of the expenditure. The Customs returns for the quarter totalled £1,433,622, as against £2,367,424, a decrease of nearly one million; stamp and death duties yielded £682,555, against. £962,1'64; income tax £96,363, against £154,216. The Public Works Fund shows that the expenditure tor the quarter amounted to £1,133,984, as compared with £704,233 in the corresponding quarter of last year. The balance at credit at the end of the quarter totalled £1,648,619. The Public Works Fund was credited with £2,160,000, of the 6 per cent. loan issued in London.