B.—l [PT. ll]

The opening balance of the Public Debt Repayment Account was £319,969 2s. 7d., and during the year £2,565,354 2s. 9d. was transferred from Consolidated Fund to the account. Securities valued at £2,609,045, as shown above, were redeemed, leaving a balance at 31st March of £276,278 ss. 4d. available for further redemptions. The following statement shows the amount of loans subject to the Repayment of the Public Debt Act, 1925, and those not subject to the Act, as at 31st March, 1943. The amounts set opposite the several accounts, other than the Ordinary Revenue Accounts, War Expenses (1939), and National Development Loans Account, represent also the amounts of capital liability due by such accounts to the Consolidated Fund in terms of the National Development Loans Act, 1941. Particulars. Loans subject to the Repayment of the Public Debt Act, 1925 — Consolidated Fund: Ordinary Revenue Account— £ g. d. £ s. d. Discharged Soldiers' Settlement Account.. .. 2,871,001 12 0 Greymouth Harbour Board Account .. .. 148,186 2 7 Mining Advances Account .. .. .. 33,209 0 11 Miscellaneous.. .. .. .. .. 7,836,531 14 10 Naval Defence Act Account .. .. .. 812,209 10 0 Reserve Bank of New Zealand Account .. .. 1,125,000 0 0 State Advances Corporation Account .. .. 1,030,728 9 0 War Expenses Account (1914-18) .. .. 35,997,065 19 11 Public Works .. .. .. .. .. 167,899,629 1 4 Bank of New Zealand Shares Account .. .. 875,000 0 0 Housing Account .. .. .. .. .. 21,700,104 1 9 Iron and Steel Industry Account .. .. .. 14,000 0 0 Land for Settlements Account .. .. .. 7,616,823 15 4 Cheviot Estate Account .. .. .. .. 160,918 0 0 Main Highways Account .. .. .. .. 11,481,918 11 8 State Forests Account .. .. .. .. 3,497,438 7 5 War Expenses (1939) .. .. .. .. 123,464,790 1 7 National Development Loans Account not allocated to accounts .. .. .. .. .. 25,000 0 0 386,589,554 8 4 Loans not subject to the Repayment of the Public Debt Act, 1925— Loans for which special sinking funds or for which provision for repayment is provided — State Coal-mines Account .. .. .. 536,967 3 0 Electric Supply Account .. .. .. 17,624,600 14 5 Nauru and Ocean Islands Account .. .. 192,044 7 3 Westport Harbour Account .. .. .. 614,250 0 0 Samoan Loan Suspense Account .. .. 65,115 0 0 State Advances Account .. .. .. 34,102,640 10 10 53,135,617 15 6 Loans represented by funded debt to the Imperial Government— Ordinary Revenue Account— Naval Defence Act Account .. .. 577,446 11 5 War Expenses Account (1914-18) .. .. 23,320,196 17 0 Public Works Account.. .. .. .. 169,109 15 3 Land for Settlements Account .. .. .. 33,446 6 11 24,100,199 10 7 Total liability represented by debt as at 31st March, 1943 .. £463,825,371 14 5 Increase and Decrease of the Public Debt Statement of the public debt showing increases and decreases during the year : — £ s. d. Total debt as at 31st March, 1942 .. .. .. .. 385,397,732 18 3 Additions during the year— £ s. d. Consolidated Fund : Ordinary Revenue .. .. 414,667 10 0 National Development Loans .. .. .. 3,050,000 0 0 War Expenses .. .. .. .. .. 80,000,505 13 5 83,465,173' 3 5 468,862,906 1 8 Reductions during the yearWar Expenses debt redeemed .. .. .. 240,509 12 3 Other debt redeemed .. .. .. .. 4,797,024 15 0 5,037,534 7 3 Total debt as at 31st March, 1943 .. .. .. .. £463,825,371 14 5

XI