REPAYMENT OF THE PUBLIC DEBT REPORT AND ACCOUNTS OF THE PUBLIC DEBT COMMISSION FOR THE YEAR ENDED 31st MARCH, 1945

Appendix to the Journals of the House of Representatives, 1945 Session I, B-02

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1945 NEW ZEALAND

REPAYMENT OF THE PUBLIC DEBT REPORT AND ACCOUNTS OF THE PUBLIC DEBT COMMISSION FOR THE YEAR ENDED 31st MARCH, 1945

Presented to both Houses of the General Assembly in compliance with Section 14 of the Repayment of the Public Debt Act, 1925

REPORT Wellington, 17th August, 1945. The Public Debt Commission has the honour to lay before Parliament the account of its transactions for the year ended 31st March, 1945. The following certificate in terms of the Repayment of the Public Debt Act, 1925, was furnished by the Controller and Auditor-General: — Pursuant to section 7 of the Repayment of the Public Debt Act, 1925, I hereby certify that— (a) The total amount of the public debt within the meaning of the Act outstanding at the end of the financial year ended on the 31st day of March, 1945, was five hundred and sixteen million one hundred thousand six hundred .and eighteen pounds eighteen shillings and eightpence (£516,100,618 18s. Bd.). (b) The amount of the public debt repaid or redeemed under the provisions of the Act within the financial year aforesaid was three million nine hundred and seventythree thousand seven hundred and eighty-eight pounds fifteen shillings (£3,973,788 155.). (c) The aggregate amount of the public debt that has been so repaid or redeemed since the commencement of the Act and to the end of the financial year aforesaid was thirty-three million three hundred and forty-two thousand and twenty-one pounds ten shillings and elevenpence (£33,342,021 10s. lid.). Cykil G. Collins, Controller and Auditor-General. In terms of section 11 of the Repayment of the Public Debt Act, 1925, the sum of £3,585,146 16s. Id. was paid to the credit of the Public Debt Repayment Account from the Ordinary Revenue Account of the Consolidated Fund, and of this sum, together with the balance at the beginning of the year (£909,312 10s. 5d.), the amount of £3,973,788 15s. was utilized in the discharge of the public debt of securities of a nominal amount of £3,973,788 155., as per statement hereunder. Public Debt Repayment Account Receipts Balance at beginning of year — £ s. d. £ s. d. Cash in the Public Account .. .. .. .. •• •• •• 909,312 10 5 Repayment of the Public Debt Act, 1925, section 11—• Transfers from the Consolidated Fund — Subsection (a), being one-half of 1 per cent, of the amount of the public debt outstanding at 31st March, 1944 .. .. .. •• 2,410,417 9 5 Subsection (a), being one-half of 1 per cent, of the amount of the public debt redeemed to 31st March, 1944 .. .. .. 146,841 3 4 Subsection (ft), being 3$ per cent, of the amount of the public debt redeemed to 31st March, 1944 .. .. •• •• 1,027,888 3 4 3,585,146 16 1 £4,494,459 6 6

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Payments Securities redeemed and cancelled in terms of section 13 of the Repayment of the Public Debt Act, 1925— New Zealand Loans Act, 1932 — £ s. d. £ s. d. Debentures .. .. .. .. .. .. .. 280,235 0 0 Stock .. .. .. .. .. .. .. 3,213,028 15 0 Death-duty stock .. .. .. .. .. ■■ 473,925 0 0 3,973,788 15 0 Balance at end of year — Cash in the Public Account .. .. .. .. .. .. .. 520,670 11 6 £4,494,459 6 6

Statement of Securities redeemed and cancelled in Terms of Section 13 of the Repayment of the Public Debt Act, 1925, during the Financial Year 1944-45

* Various dates ol redemption of death-duty stock. The capital accounts which have been relieved of liability due to the above redemptions are : — £ s. d. (1) Discharged Soldiers' Settlement Account .. .. 2,692,014 19 0 (2) Naval Defence Account .. .. .. .. 530,753 16 0 (3) War Expenses Account:. .. .. .. .. 403,510 0 0 (4) War Loans (1914-18) Account .. .. .. .. 610, 0 0 (5) Exchange (Ordinary) Account .. .. .. .. 346,900 0 0 £3,973,788 15 0 Chairman, Public Debt Commission.

Approximate Cod of Paper.—Preparation, not given; printing (467 copies), £4.

Authority: E. Y. Paul, Government Printer, Wellington.—l94s.

Price 3d.]

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Nature of Security. Purity. Nominal Value. Cash utilized Redemption. £ s. d. £ s. d. Debentures .. .. 4 15/2/46 286,235 0 0 286,235 0 0 15/5/44 Stock .. .. .. 4 15/2/46 1,474,900 0 0 1,474,900 0 0 15/5/44 3£ 1/1/45 699,125 0 0 699,125 0 0 1/7/44 3| 1/1/45 1,035,375 0 0 1,035,375 0 0 1/1/45 4 15/3/43 610 0 0 610 0 0 15/9/41 4 1/4/46 5,273 15 0 5,273 15 0 Various. 2J 1/8/46 7,700 0 0 7,700 0 0 * 2J 15/9/47 11,880 0 0 11,880 0 0 * 2| 15/5/48 5,350 0 0 5,350 0 0 * 3 15/9/48 4,595 0 0 4,595 0 0 * 4 30/11/48 1,800 0 0 1,800 0 0 * 4 15/4/49 775 0 0 775 0 0 * 2£ 15/6/49 28,655 0 0 28,655 0 0 * 21 15/2/50 5,450 0 0 5,450 0 0 * 2i 1/10/53 76,860 0 0 76,860 0 0 * 3" 1/8/54 25,220 0 0 25,220 0 0 * 4 15/6/55 200 0 0 200 0 0 * . 3 15/9/55 68,070 0 0 68,070 0 0 * 3 15/5/56 67,655 0 0 67,655 0 0 * 3 15/12/56 95,260 0 0 95,260 0 0 * 3 15/2/58 10,630 0 0 10,630 0 0 * 3| 15/9/60 59,980 0 0 59,980 0 0 * 3 15/4/63 1,410 0 0 1,410 0 0 * Interest Duration of war 780 0 0 780 0 0 * " " ' ' ' free and six months 3,973,788 15 0 3,973,788 15 0