SUBSTANTIAL ECONOMT

Taranaki Daily News, 24 March 1932, Page 5

SUBSTANTIAL ECONOMT

FRUIT OF BRITISH POLICY BUDGET PLANS EXCEEDED HUGE INCOME TAX GAINS OVERCOMING THE DEFICIT 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 in the national accounts of only £19,400,000, compared with £34,800,000 on the corresponding date last year. The revenue in the week amounted to £24,700,000 and the expenditure to £19,900,000, making a surplus in the week of £4,600,000.

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 £2.1,000,000 behind last year’s receipts to date, although the Budget estimated the Exchequer would receive in the year about the same total as last year. Customs and/ excise revenue together are about £10,000,000 over last year’s receipts to date compared with the Budget estimate of £7,500,000. The increase in the year’s supply expenditure to date is about £11,000,000 in excess of last year, compared, with an estimated increase of indicating substantial economies. The floating , debt amounts to £609,000,000, a reduction of £3,500,000 in a week.