DOMINION'S FINANCE

Waikato Times, Volume 89, Issue 13890, 16 October 1918, Page 5

DOMINION'S FINANCE

RISING EXPENDITURE. MINSTER'S STATEMENT. ».v Ti'lofinipli—l'ri's* Association. VYKLLI.\V,T<i.\, Tuesday. \ statement reirarding the revenue •and expeixliliin nf Mi.- Consolidated l-'iiinl for Ihr lirsl six months of the cuiTeiil MiitJ lie' |H'i'\ious linaneial yi-.ir was iiivi-n ■■> the Minister for Einane . The ligures arc as follow: \'.*\*. 1917. £ £ Kxpi nditure .. 5.252.781 r> f 48.""),5(".r» KcMinie .. 7,050,998 6,049,858 Excess of expen(litniv £1.195.783 £430.007 I _ The Minister rein rkctl that the net ' increase in i ■•vi-mii' wis £ L.007.1 iO ami the inciv.ise in expenditure £1,700."110. The increase in expenditure for tin- Mrs) six months of the financial year thus exceeded the increase in revenue for the same period by £759,770, the heavy increase in expenditure being due tn interest ;>ad sinking fund charges and war pensions.

I ''tails of the increases in revenue pre:—Customs, £191,0 il; stamps and death duties, £J 12,580; Postal and Tel. graph. 1100.12 i: Land Tax. £47,0;">r>: Income Tax. £75,003; beer duly, £30,522; Railways, £234.244; registration and otlier fees. £2003; niisecllaneous, £143,220; national endowment, £8331 : other receipts, £3OOO. Decreases of revenue arc:—Marine, £IBO2. and Territorial, £5353. The increase in interest and sinking fund charges for the period amounted to £ 1.1 10,519. Oilier increases in expenditure were: - I'nder special Acts. £120,231: Civil List, £1535: Finance Department. £18,917; Post and Telegraph. £01.121: Railways, £207.?U*: Public lluildings, £5852; Native Department, £1055: Justice. £12,931: Mines, £9500; Infernal Affairs, £ll,533: Customs and Marine, £7830: Labour, £1758; Lands and Survey, £19.■977: Education, £39.884. Decreases in expenditure during the period were: Legislative, £4OOB Defence, £13,561; Agricultural. £20,720; services not provided for, £20,849; purchase of wheat. £128,302. The increase in expenditure make a total of £1.901,017. and decreases atotal of £194,100, leaving an increase in expenditure of £1.700.917.

"If we contrast the ordinary Departmental expenditure, exclusive of interest and sinking fund and other permanent charges," slated Sir Joseph, "it will be found that the expenditure for the six months ended September 30 exi ded thai for the corresponding period of 1917 by £332.591. In view of the fact that the better half of the linaneial year as regards revenue has still to come. I think the position may lie considered satisfactory. The greatest increases of Departmental expenditure are under the headings of railways, post and telegraph, and education. In the case of the Railways Department the increase in revenue for the six months is less than the increase in expenditure.

"The Public Works Department shows an increase of £44,689 in expenditure, as compared with the corresponding period of last year. The expenditure out of the Public Works Fund continues to he well regulated, and no difficulty has hem found by the Treasury in providing fur the requirements of the Department. The expenditure for tin' six months shows an increase of t'7 1 i."> over tin- expenditure for Die corresponding period of 1917. The increases arc:—Public buildings, £8592: lighthouses, etc., £1774: tourist and health resorts, £117; immigration. £9fi; roads and bridges, £17,283: telegraph extension, £89.213; contingent Defence, £889; irrigation and water supply, £828; .plant, material and stores, L 4894. Decreases in the public works expenditure were:— Railway construction, £81,908: development of mining, £4l; lands improvement, £18G; unauthorised, £4OOO. The net increase in the public works ■expenditure was thus £44,689."