B.—l [Pt. m

As expenditure on housing construction is now made from Public Works Account, the Minister of Finance approved the division of public works capital liability in terms of the National Development Loans Act, 1941, section 6, and the Finance Act, 1944 (No. 3), section 3, in order to show the capital liability in respect of housing construction. Particulars. Loans subject to the Repayment of the Public Debt Act, 1925— £ s. d. £ s. d. Consolidated Fund : Ordinary Revenue Account — Discharged Soldiers Settlement Account .. .. 177,985 1 0 Greymouth Harbour Board Account .. .. 148, 000 0 0 Mining Advances Account .. .. 33,209 0 11 Miscellaneous.. .. .. . • •• 8,131,471 19 10 Reserve Bank of New Zealand Account .. .. 1,126,000 0 0 State Advances Corporation Account .. .. 1,030,728 9 0 War Expenses Account (1914-18) .. •• 58,297,465 16 6 Exchange Account (Ordinary) .. .. •• 36,028,095 14 9 Public Works Account — Public Works .. .. 170,612,299 6 5 Housing Construction .. .. .. ■■ 5,200,707 15 2 Housing Account .. .. •• •• 21,130,253 19 6 Bank of New Zealand Shares Account .. .. 875,000 0 0 Iron and Steel Industry Account .. •• •• 14,000 0 0 Land for Settlements Account .. .. .. 7,650,270 2 3 Cheviot Estate Account .. .. .. •• 160,918 0 0 Main Highways Account .. .. •• 12,967,918 11 8 State Forests Account .. .. •• 3,877,4-38 7 5 War Expenses Account — War Expenses (1939) .. .. .. .. 214,957,606 2 6 Exchange Account (War Expenses) .. •• 3,792,500 0 0 National Development Loans Account not allocated to accounts .. .. •• •• •• 15,000 0 0 546,225,868 6 11 Less loans represented by funded debt to the Imperial Government .. .. •• •• 30,125,249 8 3 516,100,618 18 8 Loans not subject to the Repayment of the Public Debt Act, 1925 — Loans for which provision for repayment is provided— £ s. d. State Coal-mines Account .. .. ■■ 1,521,591 3 0 Electric Supply Account .. .. 21,297,210 16 8 Nauru and Ocean Islands Account .. .. 192,044 7 3 State Advances Account .. .. .. 34,001,697 010 57,012,543 7 9 Funded debt due to the Imperial Government .. •• 30,125,249 8 3 Total liability represented by debt as at 31st March, 1945 .. £603,238,411 14 8 Increase and Decrease of the Public Debt The following statement shows increases and decreases of the public debt during the year : — £ s. d. Total debt as at 31st March, 1944 .. •• •• •• 566,494,017 7 4 Increases during the year - Consolidated Fund — Ordinary Revenue Account: £ s. d. Miscellaneous.. .. . ■ • • ■ • 210,365 0 0 National Development Loans .. .. •• 11,148,000 0 0 War Expenses .. .. • • • • .. 54, 418,343 1 0 1 65,776,708 1 0 632,270,725 8 4 Decreases during the yearWar expenses debt redeemed .. •• 24,152,169 5 0 Other debt redeemed .. •• •• 4,880,144 8 8 29,032,313 13 8 Total debt as at 31st March, 1945 •. • ■ • ■ • • 14 8

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