BRITAIN’S BALANCE SHEET

Dominion, Volume 32, Issue 146, 16 March 1939, Page 11

BRITAIN’S BALANCE SHEET

Big Drop In Deficit Last Week TRADE FIGURES FOR FEBRUARY (British Otlicial Wireless.) (Received March 15. 6.30 p.m.) RUGBY, March 14. With only three weeks of the financial year to run, the deficit now amounts to £23,805,012, having been reduced during the week by £29,662,491. Ordinary revenue during the week totalled £5.374.823, making a total to date of £859,731.074, which is £43.511,059 more than at the corresponding date last

Total expenditure, less self-bal-ancing items and sinking funds, is £883.536.086. compared with £806,064,277 at the corresponding date of 1938 and with the estimate for the present financial year of £948,366,000.

The yield from income tax last week was £13,137,000. against £.10,307,000 for the corresponding week a year ago. With regard to the trade position, United Kingdom exports for February were valued at £38,052,216, compared with £37,558,722 a year ago. Imports amounted to £65,515.512, compared with £75.793,898 in 1938. The value of imports is the lowest for any month for more than two years.

Re-exports for the past month were £4.772,323. against £5.527.706 in February, 1938. For the first two months of this year the fall in the value of imports, compared with the corresponding period of 1938, is nearly £20,000,000. Principal decreases in imports are: Grain and flour. £1,784,000: meat, £511,000; dairy produce, £1,221,000; iron ore and scrap, £1,137,000; raw cottou, £1,493,000: hides and skins, £529,000; papermaking materials, £676.000; rubber, £712,000; iron and steel and manufactures. £1,148,000.