INCREASE IN REVENUE

Dominion, Volume 12, Issue 94, 15 January 1919, Page 5

INCREASE IN REVENUE

STATEMENT BY THE MINISTER

FINANCIAL RETURNS

The Hon. Arthur Myers, ActingMinister of Finance, has furnished the usual monthly returns showing the revonue and expenditure for the nine months euded December 31, 1918, as compared with the similar period of 1917; also revenue for the months of December, .1918 and 1917, and the twelve months ended December 31, 1918, as compared with the similar period ended December 31, 1917. Commenting on the figures, Mr. Myers 6tated that the revenue for the nine months ended December 31 nhows an increase of .£1,551,271 over the corresponding nine months of the previous year. "It will he noticed," said the Minister, "that practically all sources of revenue show an increase. A large amount of increase is shown under the heading of miscellaneous, and this is attributable, to a very large extent, to the interest received on investments in England. The return of expenditure for the nine months ended in December last shows an increase of .22,937,830 over the corresponding period of the previous year, so that it will be seen that the increased expenditure exceeds the increased revenue for the period. The increased expenditure is chiefly accounted for by the additional charges for interest and sinking fund, pensions, etc. "In view of the faot that the remaining three months of the year are good revenue-producing months, and also in view of. the fact that income tax is payable in February,'l think it is safe to anticipate that the ordinary revenue account at the end of the year will show a satisfactory balance. "The statements attached regarding the Publio Works Fund show that there has been a. decrease in the expenditure in the nine months.as compared with the corresponding nine' months of the previous year, amounting to X 16.689. Revenue. Statement of revenue for the nine months ended Docember 31, 1918, compared with the revenue for the nine months ended December 31, 1917:— Nine Nine ' ] months months ended ended . Dec. 31, Dec. 31, i 1918. 1917. •■ i £ £ I Customs ■ 2,695,986 2,424,013 Stamps & death duties .1,469,1-12 1,250,157 Postal and Telegraph 1,490,600 1,320,839 Land tax 1,408,330 1,114,057 Income tax ......:. 395,077 312,376 Beer duty ' 191.689 163,093 Eailways ';... 3,339,176 3,176,390 Registration and other fees ... i.......'. 68,557 ' 63,232 Marine » • 24,192 26,356 Miscellaneous 753,717 470,808 Territorial 112,960 115,678 National Endowment I avenue •••• 108,324 100,493 Other receipts • 40,924, 10,111 !• Totals 12,099,774 10,518,503 -- -■''.- ■■■ ■. ~ ~ £ ■ Increase during nine ■ • . . months ended Dee. 31, 1918 .......: 1,551,271 ■■■••'- ■ £ Total revenue for the month of Dec, 1918 3,005,682 Total revenue for the month of Dec, 1917 .2,656,855 Increase ;. . ■' 318,827 Revenue, Statement of the revenue for the year ended December 31, 1918, compared with the year ended December 31, 1917:— • Year Year ended ended Dec.. SI, Dec. 31, -'1918. ■ 1917. £ £ Customs ...» 3,635,381 3,350,825 ■ Stamp & death duties, 2,111,299 1,693,716 Postal and Telegraph 2,006,017 1,884,819 Land tax 1,679,931 1,173,280 Income tax 5,702,262 4,491,813 Beer duty 265,671 215.443 Eailways 4,831,009 4,531,148 Begistration and' other f| e3 106,574 99,358. Marine 36,189 - 38,472 Miscellaneous 1.001,346 702,300 Territorial . 202,925 206,788 National Endowment ' revenue 108,824 100,493 Other receipts ....... 70,015 40,058 Totals 21,757,493 18,531,571 £ Increase for year 1918 3,225,922 Expenditure Account. Statement showing the expenditure for the nine months ended: December 31, 1918, compared with that for the corresponding period in 1917:— Nine Nine months months .ended , ended .'' 31/12/18. 31/12/17. £ £ Permanent charges: . Civil List W,074 18,828 Interest and Sinking Fund 5,164,015 2,965,092 Under speoial Acts... 1,817,441 1,380,549 7,000,530 4,364,469 Annual appropriations: Class I-legislative;.. 23,114 32,583 Class 11-Finance Dept. 103,928 79,603 Class 111-Post &Tol. 906,160 866,507 Class IV—Working Eailways .'.:: 2,318,751 2,144,516 Class V—Public bldgs., etc. ; :: 71,052 66,799 Class'Vl-Native Dept. 18,609 17,390 Class Vll-Justice Dpt. 332,227 - 315,963 Class VIII-Mines Dpt. 28,721 18,969 Class IX—lnternal Affairs 168,695 173,660 Class X—Mental Hospitals and Public Health -193,384 172,375 Class Xl—Tourist Dpt. 34,316 30,144 Class XII-Defence Dpt. 266,622" 291,520 Class Xlll—Customs A Marine 118,632 110,750 Class XIV-Dept. of Labour 22,913 22,181 Class XV—Lands and Survey 134,550 112,907 Class XVI-Valuation and Electoral 33,130 31.450. Class XVII-Agricul- • ture, etc 170,469 336,748 Class XVJII-Educa-tion 1,184,519 1,134,070 Services not provided for 35,819 2,707 6,165,641 5,963,872 Totals 13,166,171 10,328,341 .", .. £ ' Increase during nine month ended Dec. 31, 1918 ..V ..;■... 2,837,830 Public Works Fund. Statement showing the position of the Public Works Fund from April 1, 1918, to December 31,1918:- £ £ Balance on April 1, 1918 295,539 Eeceipts 737,100 . : 1,032,639 Expenditure 706,052 Balance Dec. 31, 1918 326,587