PAYMENTS OVERSEAS

Timaru Herald, Volume CXLVII, Issue 21504, 17 November 1939, Page 6

PAYMENTS OVERSEAS

FIGURES FOR LAST TWO YEARS By Telegraph—Press Association WELLINGTON. November 16. Figures showing the value of importatiorjs by the Government and other payments overseas during the last two years were given by the Hon. W. Nash in a broadcast address to-night. For the year ended September 30. 1939, said Mr Nash. Government importations of goods amounted to £5,195,000 compared with £5,780,000 for the previous year. In addition to payments for imports the Government had to pay certain other charges such as pensions, naval pay and the cost of the High Commissioner’s office. In the year ended September, 1939, this was £609,000 compared with £601,000 for the year ended September. 1938. Interest on loans in the United Kingdom for the year ended September 30 last totalled £6.651,520 compared with £6,662,309 for the previous year. The total of these amounts was £12.455.000 for the year ended September, 1939, compared with £13,043,000 for the previous year. Those figures did not give a correct comparative statement of the position, for in 1939 there were increasing purchases of defence equipment which exceeded those of the previous year by £25.000. Foodstuffs and fruit had also been purchased by the Marketing Department to the extent of £200,000. The actual saving in Government expenses would be more than £1,000.000.