DECREASED EXPENDITURE

Waikato Times, Volume 96, Issue 15041, 14 September 1922, Page 5

DECREASED EXPENDITURE

FIGURES FOR FIVE MONTHS CURTAILMENT BY £1,903,249. & DEPARTMENTAL RETURNS. By Telegraph.—Special to Times. . WELLINGTON, Wednesday. The important economics effected by the State Departments during the first five monthsfof the current financial year were revealed by the Prime Minister in a statement made in the House to-day. Hon. W. F. Massey said that he had received from the Treasury a comparison of reyenue and expenditure for the first five months of the current financial year and the corresponding months of last year. The revenue showed a net decrease of £151,509. That was a better position than he had any reason to expect a few months ago, and he would predict now that during the present month the revenue would overtake last year’s revenue. The net decrease in expenditure from the Consolidated- Fund for five months had been £1,903,249. He thought that the result would be satisfactory to the House and to the country. The principal savings were as follows: —

Treasury ... •-• 26,000 Working Railways 851,000 Internal Afflairs 48,000 Printing and Stationery -... 33,000 Defenoe Military Forces ... 57,000 Lands and Survey .... 25,000 Agriculture 30,000 Tourist 12.000 Education ,41,000

Post and Telegraph 183,000 A saving of £421,719 under the heading of industries and commerce was connected with the i wheat purchased, and was not included in his totals. "These figures are very good," said the Prime Minister. "There is no question about that. The decline in the expenditure Is very satisfactory, and proves that the economies are real, and not merely on paper. The outlook would be muoh more satisfactory from the financial point of view were it not for the fact that I know we have to look forward to a drop in the income tax this year of perhaps £2,000,000, and perhaps a little more than £2,000,000 compared with last year."