PUBLIC ACCOUNTS

Timaru Herald, Volume CLVIII, Issue 23316, 27 September 1945, Page 4

PUBLIC ACCOUNTS

Quarterly Figures Satisfactory Position Revealed Receipts Meet Expenditure (N.Z.P.A.) WELLINGTON. Sept. 26. ' Statements on the receipts and pay- 1 ments for the Consolidated Fund, the 1 Social Security Fund and the W’ar I Expenses Account for the quarter ■ ended June 30 last were made to-day ; bv the Hon. W. Nash. Minister of ' Finance. , The Minister said that while the j June figures did not give an accurate guide to the final results, particularly with the War Expenses Account, where claims were expected to be received later in the year, the figures generally were in accordance with anticipations, and revealed a satisfactory position. The figures compared with the June quarter 1944 were:— Consolidated Fund Receipts from taxation total £8.335.000 (£9,158,0''), including customs £1.728.000 (£1 830,0001, beer duty £508.000 (£572.0001, sales tax £804.000 (£775,000), film hire £22.000 (£30.000 >. highways £436,000 (£299.000). stamp duty £574.000 (£582,000). land tax j £20.000 (£27,000), income tax £4.225.000 (£5.026.000). miscellaneous £lB.OOO (£17.000); interest recoveries irom trading activities £1.063,000 (£985.000>. other receipts £347.000 (£1.206.000); total £10.245,000 (£11,349,000'. Expenditure: Permanent appropriations £4.005.000 (£5.027.000) including debt services £3.743.000 (£4.733.000), other social acts £262.000 (£294.000). Annual appropriations: £4.694.000 (£4.169.000) including social services £2,872.000 (£2.435.000). other votes £1.822.000 (£1.734.000) total expenditure £8,699,000 (£9.196,000). Commenting on the position of the Consolidated Fund the Minister said that as the figures related to such a short period, they could not be taken as an indication of the final budgetary position for the full year. The most satisfactory comparison at this stage was against the figures for the same period last year. This showed that after allowing for certain purely accounting fluctuations in income tax receipts and “other receipts” for a similar period last year, revenue was up to expectations. A satisfactory feature was that receipts had been sufficient to meet outgoings. Social Security The Social Security fund shows total recepts of £3.576.000 (£3.631.000) and total expendture £3.016.000 (£2.906.000). including monetary benefits £1,575.000 (£1,826.000). and administration, medical, hosnital, etc. benefits £1,441.000 (£1.081.000). The Minister said that receipts and expenditure showed only slight variations from the same period last year. He pointed out that as the Budget estimate allowed for increases in age. widows, invalidity, sickness and other benefits from October 1, the estimated amount of £1.844.000 for the half-year, a comparison at present with the proportionate figures to June last did not reflect the true position. War Expenses Account Receipts in the War Expenses Account were: Income tax £1.382.000 (£1,620.000). stamp duty £791,000 (£899.000), customs duties £631.000 (£656.000). beer duty £274 000 (£245.000). sales tax £1.848 000 (£1.767.000), postage £150,000 (£150.000). national security tax £4,963,000 (£5.045,000). miscellaneous £26.000 (£24,000). lend-lease and Canadian mutual aid £2,230.000 (£1.598.000), memorandum of security £3,538.000. (£2.012.000). New Zealand borrowing: Advance subscriptions £1,792.000 (£2.491.000), national savings £5 597.000 (£1.391.000). > stock £9,400.000 (£4 928 000). disposal of : surplus assets £410.000 (nil), miscell laneous £55.000 (£16,000), total £33.086.- ■ 000 (£22.842.000). Expenditure: Navy 7 £411,000 (£591.000), > army £601.000 (£3.950.000). air £5.063.000 ’ (£2,759.000), ancillary £1.963 000 (£2.582.1 000). rehabilitation £423 000 (£100.000). reverse lend-lease £5.274.000 (£4.645.- : 000), total £13,735,000 (£14.627,000). ’ The Minister said the increased : receipts in the War Expenses Account : were due to the earlier flotation of this ’ year’s war loan and from credits under ’ mutual aid and the disposal of surplus ‘ assets, which did not appear last year. 1 On the other hand, expenditure was ' £890.000 less than for the comparative 5 quarter last year. The net army - expenditure was down by £3.349.000 as : the result of the transfer of arms. * equipment and munitions from New L Zealand to Britain. The increase of - £2 304.000 in air expenditure was due I to the final cash settlement of com--1 mitments under the Empire Air Train- ‘ ing Scheme. __