OUR FINANCES

Dominion, Volume 9, Issue 2637, 7 December 1915, Page 6

OUR FINANCES

POSITION SOUND AN INCREASE IN REVENUE ' : STATEMENT BY THE FINANCE MINISTER 'A statement concerning revenue and expenditure' for. the month of November, and tor-periods ending November 30, was. made by the Minister of Finance 1 (Sir Joseph Ward) joist night. . : ;^'Tlio.'revenue:for ; the month of-No-yember,''said !3ir 'Jo'sepi Ward, "shows ail increase 'oyer" .thai"' for November, 1014;* .of, , £385,055.'Thi5" increase is partly accoun ted. for. by tho'earlier, payment: of laiid taxation this: year, and 'also bythe increase in the-public , services tariffs, which; are. now;.- beginning to bo- felt. . . . ■ "Tlio jevenuo for,' the first: eight months of the current yeaT shows an increase' of, £461,621 over{'that, fogthe corresponding poriod of last year,- and a comparison of revenue for the twelve months ended November 30, 1915; witu the revenue for. the corresponding' year ending November 30, 1914, shows an increase*' of': £504,523.: for' the . later i period. So ; far that is satisfactory. . The individual Departments show:. increases in all but four during tho.Y-ight

months just concluded. The increases are: Stamp and Death Duties £70,102, -Post and Telegraph £41,362, Land Tax Income Tax ; £4605, Beer Duty £223,'.Railwaya £94,773, Registration and other'fees £4801, National Endowment Revenue £13,885, other receipts ;£4702.-.':,'TKe', decreases ..are in Customs £12,213, Marine £2948, Miscellaneous £42,768, Territorial Revenue ' '£1349. This means a total of increases of £520,899, and a total of decreases of £59,278, leaving a, total net increase of £461,621. Expenditure. . "I am glad to say. that for the ■ month of November there is,a very gratifying in ,expenditure, amounting ti £154,956, as compared with November,' 1914. For the eight months of the financial year which have elapsed the' total increase in expenditure • amounts to £119,387, bufc in that eight months the increase in interest and sinking fund was £153,953, while ; the increases in other, permanent charges under special Acts were £41,'877. A review, of. the expenditure for the month . of November by comparison with that for the same month of the previous year, shows a distinctly gratifying turn' for the better, for in spite, of ' an in-' crease in permanent charges for interest and sinking fund, r aM under special Acts of £40,876, there is'a net decrease for the month of £154,956, as compared with the expenditure for .November, 1914. - The increase in-expenditure in ■ the eight months ended November 30, 1914, over the corresponding eight months of 1913, was'£922,os7j while the. increase in expenditure in the eight months just ended over the eight months of 1914 was only £119,387. A comparison of expenditure for November, 1915, ' with that' for November, 1914, showed a decrease of £154,956, an<l the expenditure for November, 1914, was £392,591 in excess of the expenditure for November, 1913. ,

"So that it-will be'seen, that we are improving our position so far as the consolidated revenue of the. country is' concerned, but though a decrease in expenditure has taken place, as indicated,the'real difficulty that has to be grappled witli is a still further considerable decrease in expenditure out of the Consolidated, Fund to enable us to get back at least to an equalisation of expendi- ; ture and revenue as soon as possible. DETAILED FIGURES. • The statement of revenue for, tho year ended November 30,- 1915, compared with the year ended Npvember 30, 1914, is as

. . Wider:-r r ■ .-■-■■ . Nov.30,. Nov.35,, .l. , .1915., 1914. , Inc. * 'Customs 3,155,070 3,421,265 *266,195 Stamp and :■ v ■- -.v.;:.:-':■ ' death duties 1;487;309 1,203,226 284,089 Postal • ajid ' .. .. < Telegraph 1,394,805 1,313,965 80,840 Land tax 1,086,087 775,705 310,382 1 Income. tax ... 544,923 : 547,049 *2,126 Beer duty ..... 127,883 129,373 - *1,490 Eailirays - ...... 4,201,448 '4,099,882 101,566 Registration .&.. ' -•other, fees .;. 105,821' 98,212 " 7.G09 Marine -, 47,439 51,817 *4,378 Miscellaneous * ' .'418,730 ' 469,016 *50,286 Territorial ....-238,274-. -210,849 27,426 •National „ , . , , .Endowment Bevtnue. .... 92,655 7S;770 13,885 Other .receipts ... 13,122 9,915 3,207 . ..Totals. .... 32,913,566' 12,409,043 .504,523 • 'Decrease. Statement of- the revenue for the eight months ended November 30, 1915. compared with the. .eight months'ended November 30, 1914: Nov. 30, Nov. 30, .. , j 1915.' . 1914.' Inc. ' ' cB «£' '£ • ' Customs ...... 2,105,493 2,117,711 *12,213 Stamp and ' • . death duties 809,141 .739,039 70,102 Postal and , . -Telegraph ..V : 710,393 > 669,037 41,362 land .tax315,946 • ,29,500 r 286,446 Income' tax ..*. 20,653 16,048 ' 4,605 Beer duty ... 78,126 77,903 223 Railways .... 2,544,357 2,449,584 94,773 Registration •- "p-.-• '.other'fees... ' 61,779. '56,978 -• 4.801 Marine ....... 29,098 32,046 *2,948 Miscellaneous ' 181,527 224,295 *42,768 Territorial ... 116,334 117,683. *1,349: ' National Kndowment revenue '... ' 92,655 ' 78,770 13,885 Other receipts .-9,460 4,758 4,702 Totals ... 7,074,973 6,613,352 461,621 'Decrease. Statement of the revenue for the month of November, 1915, compared with the . month of November, 1914:— <■ ' Nov. 30, Nov. 30, - 1915. 1914. ' Inc. £ .£ Customs ■ 238,661 196,456 42,205 Stamp and death „ duties 97,710 57,93-1 39,778, Postal and' tele- . graph 10,909 10,297 612 Land itax 278,962 20,734 258,228 Income tax 4,023 2,738 1,285 Kailwajs 312,216 266,826 45,390 ■ and -other foes 6,441 5,613 828 Marine 3,483 3,278 , •' 205 Miscellaneous ... 7,313 10,177 *2,864 Territorial 4,946 6,143 *1,197 National Endoirmenrovenue Other receipts... 9 ■ 12 *3 Totals '975,571 590,516 385,055 •Decrease.