DOMINION FINANCE

Dominion, Volume 12, Issue 142, 11 March 1919, Page 6

DOMINION FINANCE

A COMPARATIVE STATEMENT

CONSIDERABLE INCREASE IN

EXPENDITURE

The Hon. Arthur Myers, Acting Minister Qf Finance, has furnished tho following particulars relating to the revenue for the month of -.February, 1919, as compared with the same month lost year, tho years ended I'ebruary 28, 1919, and 1918, respectively; also particulars of. revenue and expenditure for the eleven months ended February this year, compared with the similar period for 1918. Commenting on the figures, the Minister remarked that the revenue received for the eleven months ending February 28, 1919, shows a net. increase of ,£550,756 over the revenue of the corresponding period of last year. "This is highly satisfactory," 6aid Mr. Myers, "when we consider that the payment of income tax this year is later than it was last year, a good deal of tax revenues that came within the eleven months ending February, 1918. is omitted from the return for the eleven months of this year. ''In reference tu the return of revenue for the month of February in each year, it will be noticed that there is a net decrease this year of ,£617,415. This is mainly dus to decrease in the amount of income tax collected during the month, and for the reason which I Ijave just stated this defioiency will be made good this, month.

The - comparative statement of revenue for- the twelve months ending" February 28 in each of the years 1918 and 1919 shows p, net decrease of ,£125,707 this year as compared with last vear. This decrease, however, will be converted into a considerable: increase during th 9 current month when the total income tax is paid, "The return of expenditure' out of ordinary revenue account, of course, shows a yery considerable increase under the _ heading of permanent charges, due to interest and sinking fund on war loans, soldiers' pensions, etc. ' There is also a verv considerable increase ir. Departmental expenditure, due to a large extent to the oajment of the increased war bonus. The net increased expenditure during! the elewn months ending February, 1919, as compared with the previous eleven months, amounts to .£3.246,099. "The Public Works Fund shows that we have ,£325,763 in land at the present time." j> Total revenue for the month of _ February, 1919 3,338,724 Total revenue for the roonth of February, 1918 ..h 3,9.56,139 Dqcreaso '. ,i The Year's Figures. . The following is a statement of the revenue for the year ended February °8 1919, compared with the year ended February 28, 1918:—

, Year Year ended ended 28/2/19. 28/2/18. £ £ Customs ~ 3,743,220 3,411,583 Stamp A death duties 2,182,005 1,744.r.ns Postal and Telegraph 1,957.240 1,936 Land tax 1,528,479 1,383,659 Income tax 4,741,044 6,199,991 Beer duty 264,890 229 754 Railways 4,853,093 ' 4,783,006 Registration and other fees 109,577 102,322 Marine 34,910 39,115 Miscellaneous ; 981,001 723,183 Territorial > 188,528 207,116 National Endowment avenue 108.824 100,493 Other receipts 62,901 21,544 Totals .£20,756,978 .£20,882,685 Decrease for year ended February 28, 1919 ,£125,707 Eleven-Month Comparison. Statement of the revenue for the eleven months ended Fobruary'2B,l9l9, compared with the eleven months ended February 28, 1918: — Eleven Eleven months months ended ended 28/2/19. 28/2/18. £ ' £ Customs 3,376,200 2,997,288 Stamp & death duties 1,879,542 1,589,551 Postal and Telegraph 1,524,265 1,403,281 Land tax' 1,504,282 1,361,511 Incomo tax 2,258.995 3,136,912 Beer duty 236,479 208,658 Railways 4,269,901 4,08-1,431 Registration and other fees 93,610 85.282 Marine .J • 30,385 33,528 Miscellaneous 837,680 575,116 Territorial ; 152,972 170,087 National Endowment revenue 108.824 100,433 Other receipts 45,284 21,525 Totals .£16,318,419 .£15,767,063 Increase for eleven months ended February,2B, 1919 .£550,756 Expenditure. Statement showing the expenditure for the eleven months ended February 28, 1919, compared with the corresponding period of 1918:— ; .11 mths. 11 mths. ended, ended, 28/2/19. 28/2/18. .£ £ Permanent ChargesCivil List 23,089 22,632 Interest & Sinking Fund 5.074,785 3,858,753 j Under Special Acts 2,438,892 1,718,848 J , 1 ' ' 8,136,766 5,599,733 ! Annual Appropriations— j Legislative 32,593 39.067 i Finance '. 130,852 709.715 ! Post and Telegraph. ... 1,142,671 1,060.682 ' Railways 2,885.801 2,554,842 Public Buildings,etc. ... 90,690 77,513 Native 22,986 20,96.'; Justice 411,579 372^47 Mines ■ 36,309 23.22-1 Internal Affairs 242,485 226,571 Mental Hospitals and P. _ Health 276.186 215.042 Tourist ....: 43,347 39.3151 nefencc 334.282 375,810 Customs and Marine... 146,358 139 224 labour ~ 28.451 , 3W)53 Lands and Survey 182.201 '144.580 Valuation and Electoral 39.054 35.200 Agricultural, etc 220.156 226 OM3 Education 1,466,822 1,370^156 Services not . provided for, ;...;': 37,740 3,575 7,770,569 7,061,503 Grand totals 15,907,335 12,661,236 Increase dnrin* eleven months endini? Feb: ruary 28, 1919 .... 3,246,099 Public Works Fund. The following statement shows the position of the Public Works Fund from April 1, 1918, to February 28, 1919:- £' £ Bnlanoe on April 1, 1918 295,539 Receipts 938,421 , 1,233,960 Expenditure 908,197 Balance, Feb. 28, 1919 32K.703