N.Z. FINANCES.

Waikato Times, Volume 99, Issue 16512, 5 June 1925, Page 8

N.Z. FINANCES.

REVIEWED BY MINISTER. PROGRESSIVE POLCY. i (By Telegraph.—Press Association.) DUNEDIN, Thursday. ]n the, course of an interview at, Dunedjn, the lion. W. Noswor'fhy referred to the revenue and expenditure returns for the past, year. "The finance of the country as disclosed in the accounts just gazetted for the year ended March 31 last," said Mr. Nosworthy, "shows an excellent position. The revenue for the year was £28,643,000, being an increase of £682,029 over thai of the preceding year. Of this increase customs accounted for £331,374. There was less collected by way of land and income fax by £456,G92, but this is due to remissions and concessions granted by the Government. Expenditure was £27,399,200, an increase of £1,251.195 over the previous year. II was expected that, in order to provide for the re.grading in salaries and wages of public employees, teachers and railway servants, an increase in this connection would be shown, and a largo portion of the increase is due to that cause as well as to adjustment of railway hours per week. The position is. therefore, that the operations of the year show a surplus of £1,243,800.

"The net expenditure for the year out of the Public Works Fund, including railway construction and additions and telegraph extension, amounted to £4,131,440. In addition the sum of £220,000 was transferred to the main highways account. There wa« also expended out of railway improvement authorities, £253,874; hydro-electric, £1,601,9 U ; 'and education (loans for school buildings), £102,2.12. These figures indicate the progressive policy followed by the Government, in developing the country's resources, and meeting its requirements in the directions indicated.

"During the last, two years largo additions have been made to the capital of the Slate Advances office, the amount of £6,725.000 having been raised for its purposes (exclusive of charges and expenses), as follows: — Advances to settlors. £3,025.000; advances to workers. £2.800,000. "During the three years ended March 3 I last, the capital provided by the Government for the purchase and erection of dwellings amounted to approximately £8,000.000 representing 10,980 applicants, for whom homes were provided by the Slate Advances office.

"From the discharged soldiers' settlement account advances were made to local authorities and other departments."