SURPLUS THIS YEAR.

Star (Christchurch), Issue 17014, 12 April 1923, Page 7

SURPLUS THIS YEAR.

ESTIMATED AT £BOO,OOO. MR MASSEY PLEASED. (Per Press Association.) WELLINGTON, April 12. Speaking at yesterday, the Prime Minister expressed his belief that the accounts for the financial year 1922-23, when finally made up, would show a surplus of £BOO,OOO, despite the fall of £2,000.000 in the amount of income tax collected. We have got out of our difficulties to a. very great extent,” said Mr Maasev. “ A year and a half ago. when T came back from England, my heart was in my hoots. The dump had struck us, and it really was had. We were going to the bad day by day. and the trouble was to put the brake on. Fortunately 1 had the very man at the head of the Treasury. “ We have been successful because the people of the country were very hard-working, energetic, and- loyal. During the last twelve months it is marvellous what they have done. Look at the wonderful increase in exports to see what the people have been doing, pai ticularly the people engaged in dairy farming. It has saved “The additional export and the additional money coining in just gave us the turn we wanted. We have never looked hack, and to-day the improvement is g.ing on all the time. “ The accounts are not quite made up yet, but if 1 am not very far out. we are going to end the year with a surplus of £BOO,OOO. That is a marvellous change from the position twelve months ago. ' We collected the income tax in February, hut the income tax is not collected in any February for the year t< which that February belongs. It i» collected for the previous year. When we collected the income tax this year, we were £2.000.000 short. We knew perfectly well we should be 02,000.000 shut. Well, we have wiped that out and are £BOO,OOO to the good. I am speaking in round figures. There it is—we have got a clean start.”