B—7 [PT. II

YEAR ENDING 31 MARCH, 1951

PERMANENT APPROPRIATIONS— continued

DEBT SERVICES

(a) Represents saving of interest following redemption of the London loan on Ist November, 1947, to be applied to debt redemption. _ (b) Being annual contribution in respect of the defined portion of the public uebt— i.e., the wnole of the public debt other than that raised for State Advances purposes and other portions for which special statutory provision has been made.

15

" ' 1949-50. 1950-51. Estimated. Expended. Interest — Interest in New Zealand currency— On loans domiciled in London On loans domiciled in Australia On loans domiciled in New Zealand On floating debt £ 2,601,788 34,552 13,482,899 700,000 £ 2,828,078 34,552 13,303,774 550,000 £ 2,774,797 34,552 13,274,780 652,090 Total interest as shown in detail in 15-1 [Pt. I] 10,819,239 16,716,404 Interest on anticipated new issues 634,000 390,830 Less interest on anticipated redemptions 17,453,233 10,000 17,107,234 379,234 Total interest payable 17,443,239 16,728,000 16,736,819 Amortization of Debt — Amounts transferred to Loans Redemption Account for redemption of securities— New Zealand Loans Amendment Act, 1947— Section 11 (c) Section 11 (c) Section 14 200,000 (a)470,000 (6)5,057,529 200,000 470,000 4,723,041 200,000 470,000 4,723,041 Administration and Management — New Zealand Loans Act, 1932 (Section 62)— Stamp duty on transfers of New Zealand Consolidated Stock 28,000 26,000 27,871 New Zealand Loans Act, 1932 (Section 61)Charges and expenses of raising, paying off, or renewing securities to be charged to or paid out of Ordinary Revenue Account of Consolidated Fund 221,000 150,000 261,437 New Zealand Loans Act, 1932— Charges and expenses of management of New Zealand Government Securities 68,000 68,000 65,881 TOTAL—DEBT SERVICES 23,490,768 22,365,041 22,485,049