THE COUNTRY'S FINANCES

Dominion, Volume 10, Issue 2921, 6 November 1916, Page 6

THE COUNTRY'S FINANCES

A MINISTERIAL STATEMENT BIG SURPLUS IN PROSPECT By Telegraph—Press Association. Auckland, November -1. The Acting-Minister of Finance (tho Hon. Arthur Myers) has furnished tho following figures, showing tho rovenuo and expenditure for tho Consolidated Fund for tho seven months' ended October 31, tho revenue for tlio same fund for the month of Octobcr, and also tlio position of the Public Works Fund from April 1, 1916, to October 31, 1916. The figures 6how that for the past seven months tho revenue exceeded that of the samo period_ of last year by £995,316, and the net increase of expenditure during Uio same noriod was .£289,813. "As is usually tho case," 6aid tho Minister, "tho increased expenditure occurred chiefly in permanent charges and under snecial Acts. This is accounted for by the increased charges for interest and sinking fund, war pensions, and war bonus. The "Departmental expenditure shows a. net docrease over tho same period of last "year of £130,106. The credit balanco on October. 31 amounted to £1,809,418, and as tho surplus of last year, carried forward, was £2,166,077 it will bo soon that the balance lias been reduced by £356,659 since April 1. This, however, is not unusual, as tho revenue for tho winter months Is always below the average."

The Minister states that the present prospects indicate that at tho end of tho financial year there will be a surplus of considerably over two millions.