THE PUBLIC ACCOUNTS

Taranaki Daily News, 2 November 1926, Page 7

THE PUBLIC ACCOUNTS

SIX MONTHS BALANCE REVENUE .SLIGHTLY INCREASIDk EXPENDITURE ALSO GRFATTOt, CHANGES IN BOOK KEEEPINft By Telegraph,—Freae Aascciatlon. Wellington, Last Night. The public accounts for the quarter ended September 30 appear in the Bup« plementary Gazette, the following being the official summary issued by the Treasury:'— “The total -revenue feoeived for the six months amounted to £9,801,547. for the same six months of last year, after excluding the railway revenue, which ie now paid to a separate account, the revenue was £8,647.356, so that the first half of the financial year for 1926 shows an increase in revenue of £1,154,191 over the same period last year. Included in the current half-year’s revenue, how* ever, are the following items, which were not received during the first half* year of 1925: Interest on railways eapis tai liability, £1,010,377; interest on the public debt redemption fund, £136,8121 total, £1,147,189. The increase over last year is there* fore nominal. The principal increases are: Customs, £48,484; Post and Tele* graph, £150,117; Income Tax, £143,* 501; departmental receipts, £40,915, The principal decreases are: Stamp and death duties, £64.849; land tax, £27, s 567; interest on public inonevs, £278,* 839. The total expenditure on permanent’ chargee was £6,683,615; annual appro* priations (excluding railways expend!* ture) £4,600,385; a total of £11,284,* 000, as against a total for the first si* months of last year as follows; Per* manent charges, £5,837,793; annual aps propriations (excluding railway expend!* lure) £4,298,245; total, £10,136,038. This shows an increase in permanent charges of £845,822, and in annual ap« propriations of £302,140, making a' total of £1,147,962, but from this must be deducted for comparative purposes payments amounting to £566,000 made in the second half of 1925-26. The principal increases in the perma* nent charges are: Interest, £167,903;' Repayment of Pubic Debt Act, 1925, £390,000; under special Acts, £277,830. Under the annual appropriations the' principal increases are: Vote for leg is* lative departments, £32,149; Depart* ment of Internal Affairs, £52,196; Print* ing and Stationery Department, £25,* 619; naval defence, £34,148; defence, £24,095; Customs, £54,025; Department of Education, £73,409. The change in accounting brought about by the two important policy Acts, the Railways Amendment Act, 1925, and the Public Debt Repayment Act, 1925, do not enable periodic comparisons between 1925-26 and 1926-27 to be easily made, and a sure survey in simple form is only possible at tlie close of th* year.