DOMINION FINANCES

Dominion, Volume 11, Issue 303, 11 September 1918, Page 6

DOMINION FINANCES

STATEMENT FOR FIVE MONTHS

INCREASING EXPENDITURE

The Hon. Arthur Myers, ActingMinister of Fi'nanco, has furnished the following particulars relating to tho revenue and expenditure for tho five months ended August 31, 1918, as compared with the similar period of 1917; also revenue for tho month of August, 1918 and 1917, and tho twelve months ended August 81 ; 1918, as compared with the same period ending Amnist 31, 1917. • Commenting on the figures, Mr. Myers stated that it would be observed that the revenue for the five months of this year is in excess of the corresponding period for last year by £765,961. .The comparison for tho months of Augusb alone, however, shows that the total revenue for August, 1918, was less than that for August, 1917, by £74,496, whereas on the other hand the expenditure out .'of the ordinary, Revenue Account for 1 this year compared with the five months of the previous year shows an increase of £1,124,934. "It is found, therefore," continued the Minister, "that the ratio of increase in expenditure is greater than the ratio of increase in revenue. This condition of affairs, of course, is to be expected, because of the increase in the Interest and Sinking Fund and Pensions, and the corresponding decrease on the revenue side owing to the lack of shipping facilities." •REVENUE. Statement of the revenue for the five months ended August 31, 1918, compared with the five months ended August 31, 1917. 5 mos. 5 mos. , ended ended Aug. 31, Aug 31, 1918. 1917. £ £ Customs 1,365,674 1,311,919 Stamp and' death duties :... 720,375 670,947 Postal and telegraph 641,923 479,359 Land tax 55,323 7,518 Income tax 192,716 130,213 Beer duty 104,130 72,229 Railways 1,898,534 1,658,345 Registration and other fees '. 42,415 , 37,166 Marine 13,654 ' 14,713 Miscellaneous' 296,503 182,974 Territorial 58,102 67,954 National Endowment revenue ... 108,824 100,493 [Other receipts ..■. 11,609 9,991 5,509,782 4,743,821 Increase during five mouths ended August 31 765,961 £ Total revenue for the month of August, 1918 .. 954,699 Total revenue for the month ' of August, 1917 1,029,195 Decrease i £74,496 REVENUE. Statement of the revenue for the year ended August 31, 1918, compared with the year ended August 31, 1917. Year Year ended ended Aug. 31, Aug 31, 1918. 1917. £ £' Customs 3,418,063 3,633,627 Stamp and death duties ....; 1,941,442 1,676,093 Postal and telegraph 1,998,820 1,834,448 Land tax 1,433,513 716,285 Income tax 5,632,064 4,380,555 Beer duty 2G8.976 . 189,312 Railways ..; 4,908,412 4,726,745 Registration and ! other fees 106,498 " 105,292 Marine 36,994 41,785 Miscellaneous 831,966 553,937 Territorial.' 195,791 210,951 National i Endowment rev'enuo ... 108,824 100,493 Other receipts ... 40,821) 42,191 ; 20,972,183 18,212,314 Increase for year 1918 2,759,869 EXPENDITURE ACCOUNT. Statempnt showing tho expenditure for five jnonths ended August 31, 1918, compared with the corresponding period for 1917. 5 mos. 5 mos. ended 'ended Aug. 31, Aug 31,. •• • 1918. 1917. £ £ Permanent ChargesCivil List ....;.. 10,119 8,824 Interest and Sinking Fund . ! 2,466,725 1,715,473 Under special Acts 956,386 600,504 3,433,230 2,324,801 Annual Appropriations— Legislative 10,702 \ 12,120 Finance 56,650 47,195 . Post and Tele- , graph 348,625 362,169 Railways 1,231,299 1,011,514 Public buildings 36,128 29,553 Native 9,886 8,840 Justice 147,524 146,123 Mines •. 18,132 8,628 Internal Affairs 206,479 203.113 Defence 128,978 162,216 Customs and Marine 62',689 56,438 Labour 13,466 11,995 Lands & Survey 81,822 69,747 Agriculture Cr. 14,378 81,670 Education 645,624 641,250 ' Services not pro- , vided for 1 ' 61,175 96,955 3,044,801 2,949,526 Purchase of wheat 71,270 Temporary transfer to Rangitaiki Land Drainage Account 7,500 ■ Totals 6,478,031 5,353,097 Increase during five months ended August 31, 1918 ... £1,124,934 PUBLIC WORKS FUND. Statement showing the position of the Public Works Fund from April 1, 1918, to August 31, 1918. £ £ Balance on April 1, 1918 295,540 Receipts 361,826 ' 657,366 Expenditure 345,996 Balance August 31,1918 £311,370