COUNTRY'S REVENUE IN WAR TIME

Dominion, Volume 8, Issue 2403, 8 March 1915, Page 6

COUNTRY'S REVENUE IN WAR TIME

STATEMENT BY THE FINANCE MINISTER

INCREASES AND DECREASES On Saturday morning the Hon. Mr. Allen, Minis'' : of Finance, received from Wellington a statement of the revenue for the eleven months ended February 28, 1915, as .compared with the eleven months ended February 28, 1914, as follows :—

Increases.—Postal and Telegraph, £52,381; Land Tax, £20,020; Income Tax,,£4794; Beer Tax, £2647; Railways, £90,716; Registration and other fees, £630; Miscellaneous, £44,655; Territorial, £49,320; National Endowment Fund, £6368. Decreases. — Customs, £210,766; Stamps, £30,667; Marine, £2240; other receipts, £538. The total of increases is £281,541, and of decreases, £244,212, leaving an excess of £37,329 over the amount received for the eleven months ended February, 1914.

Commenting on the returns to i a representative of the "Ofcago Daily Times" the Minister said that the decrease in the Customs had been brought about by the war. "Nearly the whole of it," said Mr. Allen, "has happened in the last two months, £100,000 in January, and £74,000 in February, and I think' there will also bo a decrease in March, the last month of the financial year. As for the falling off in stamps, I think we are likely to make up some of it this_ month. The railways certainly show an increase o? £90,716 for the eleven months'.period, but we had anticipated a considerably larger increase. Tie war has also affected this branch of the revenue.

"During February the decrease, was £41,169, as compared with February of last year. The imports are less, and consequently there is not so much distribution of trade. There is also the fact, which I have noticed myself, that fewer, people are travelling, and that many who have to travel now patroniso second-class instead of first-class. The railway revenue may Tecoverto some extent, however, in . March. The increase in the eleven months as compared with the eleven months ended February, 1914, is £37,329, but it would have been a much larger amount if there had not been the drop in the Customs and the falling off in the returns looked for from the railways." .

11 months 11 months ended ended Feb. 28, Feb. 28, 1915. 1914. £ £ Customs 2,85?,710 3,068,476 Stamps 1,074,556 1,105,223 Postal and Telegraph 1,044,974 992,593 Land Tax 781,178 751,lo8 Income Tax 514,954 510,160 Beer Tax 114,735 112,088 Railways 3,566,900 3,476,184 Registration, etc. 82,110 81,470 Marine ......... 44,573 46,813 Miscellaneous ... 352,492 307,827 Territorial 201,584 152,264 National EndowKent Fund ... 78,770 72,402 Other receipts ... 4,758 6,297 Totals ... £10,719,284 £10,681,955