A SURPLUS

Wanganui Chronicle, Volume 79, Issue 101, 30 April 1936, Page 7

A SURPLUS

ABOUT £270.000 PUBLIC ACCOUNTS MINISTER'S STATEMENT BUOYANCY OF REVENUE WELLINGTON, April 29. A surplus of approximately £27V,UOff is revealed in the Public Accounts for the financial year ended March 31 last, which were made available to-day by the Minister of Finance (Hon. W. Nash). Revenue for the year amounted to £26,170,000, and expenditure lo £25,900,000. The Minister points to the buoyancy in revenue as an indication of continued progress in the recovery of the Dominion. The -Minister stated that the Public Accounts for the last financial yeai year ended on March .31 had now been completed except for a few minor adjustments, but pointed out that before a precise statement of the revenue and expenditure could be given the accounts would have tn be audited. He stated, however, that on the figures now available the surplus was approximately £270,000. In total the revenue for the year amounted to £26,170,000, made up as follows: Taxation £21,506,000 Interest 2,719,000 Other receipts .1,895,000 £26,170,000 "This revenue total is £4.30,000 it excess of the Estimates as printed in the Budget statement,’’ said Mr. Nash, "but it will be recollected that subsequent to the Budget being brought down a further review of the revenue estimates was made, and on the basis of this review it was considered that the receipts would exceed the Budget estimates sufficiently to allow the 7i per cent, increase in salaries and the restoration in pensions to be backdated to August I instead of October 1, as was originally contemplated, the additional amount involved being about £140,000. Allowing for this the revenue received in total exceeded expectations by approximately £290,090. “The net expenditure for the year amounted to approximately £25,900,009, which was £60,009 in excess of the appropriations for the year. “The outcome of the year’s operations must be considered as satisfactory, particularly the buoyancy of the revenue, which indicates continued progress in the recovery of the Dominion. ’ ’