FINANCIAL STATEMENT.

Auckland Star, Volume II, Issue 526, 16 September 1871, Page 2

FINANCIAL STATEMENT.

Tjie revenue for the past year his been £116,000 less than estimated, and £82;000 less than last year. The main feature of (lie budget is a material reduction of expenditure. There is proposed a diminution of subsidy to provinces to capitation of ■15s. per heaijl; but the subsidy r to Road Boards will-iba (tousled, the amount !to be £100,000. The provinces are to be relieved of what were charged to them as "provincial services." Tho special allowances to Worth Island provinces and County of Westlarid.will alsoibe reduced to one-half. The provinces will thus receive £25,000 less than last year. It is proposed that Superintendents 'should be ex qfficio members of Provincial Council", and - that the number of members should be reduced. In certain cases the' Government should have power to take charge of the affairs of a province. ■■.■'■' :'» ■ A reduction in the expenditure is proposed, from £1,050,000,.that of last year to £982,000., ' : f% i.;:/ ;: The Stamp Duties to be increased, and a modei'ate duty will be imposed on cereals, rice, and timber, to the amountof £7500. '■ ;;• Total estimated revenue, .less than last yearVestimates by '£61,000, but £55,000 more than actual receipts. Distillation had produced great loss of revenue. Customs'duties will be £2,185. Gd. per head, instead of £3 16s. 7f}d-. as in 18»)7. Total surplus on tho year would be, £7500, equal to the tax on cereals and timber. This is- arr'ifed at without further taxation; save immaterial increase of stamps, while the estimates provide for £40,000 deficit of last year, and £40,0<)r) from ordinary revenue for public works. The Treasurer -believed this ,was much moro favourable tliau had been expected by members. .- ,-. ' .• i ■: