REVENUE UP

Evening Post, Issue 37, 12 August 1936, Page 10

REVENUE UP

PUBLIC ACCOUNTS

THE FIRST QUARTER

MINISTER'S FIGURES

A marked increase in revenue during the first quarter of the present financial year, as compared with the corresponding three months last year, is a feature of the returns made available by the Minister of Finance (the Hon. W. Nash) today. The returns show:—

Commenting on the figures,* the Minister stated that the increases compared with the first three months of last year show the buoyancy of the revenue, but the best indication of the position from the Budgetary point of view is a comparison of the percentages shown in the last two columns. It would be observed that the results for the first quarter of. this financial year were in accord with the Budget estimates for the year. The decrease shown under "other receipts" was accounted for by the fact that last year an amount of £231,000 was received on account of profits from the sale of gold coin which, of course, was a non-recurring item. EXPENDITURE. The state of expenditure for the three months is as under:—

"The expenditure for the three months is substantially . below onequarter of the estimates for the year," said the Minister, "but the increases of salaries, wages, and pensions all date from July 1, while the effect of many of the other proposals contained in the Budget is not yet reflected in the expenditure figures for the annual votes. "Concerning the permanent appropriations, the variations from the proportionate part of the estimates are due to. accounting fluctuations and are of no significance. For instance, the apparent saving in debt services is due Jo the fact that the amount provided in the estimates for debt repayment had not been drawn upon up to June 30 last. £600,000 GREATER. "It will be noticed that the revenue for the first quarter of this financial year is over £600,000 greater than that of the corresponding period last year," said Mr, Nash in the House of Repre-

Revenue for Revenue for 3 months to 3 months to Taxation. 30/6/35. 30/0/36. Increase'. £ £ £ Customs '... 1,S14,442 2,184,009 3(10.507 Beer duty 149,651 176,011 26.3S7 Sales tax 5S2.039 709,241 127, 202 Highways 525.240 G43,G9i 11S.451 Stamp and death duties 524,043 7S5.163 261 US Other taxation 300,490 270,842 23,054* Total taxation . £3,S93,916 £4,768,990 £873,074 Interest- 530,683 495.5G4 33,119* Other receipts 495,176 259.0S0 236.00G* Total revenue .. £4,921,775 £3,523,031 £601,859 •Deer eass. Percentase Percentage of receipts of receipts to to 30/0/30 30/6/33 to to cstltotal revenue mated revenue for year for year 1935-36. 1936-37. 22.23 24.00 23.63 24.45 18.'44 " 24.'43 ;>.(2 3.50 3S.07 18.33 19.50 10.60 26.13 10.2-4 18.S0 17.77 .

1'roportionato part' Expenditure of estimate. to 3/0/36. Permanent Appropriations— £ . £ Debt services ,... 2,314,6S2 : 2,009064 fcxenango 563,750 595,462 umer permanent appropriations ... 7S2.50S ' . 826,844 Total permanent appropriations £3,460,910 £3,431,470 Annual Appropriations— c'al services , 2,575,5,16 1.591,305 Other Totes 1,C6J,«7 837,127 Total '. £7;700,9D3 -£5,859,902 ,l?nder proportion. £ 305,018 231,712* 43.S36* £20,470 981,251 827,330 £1,841,031 : *OTcr proportion.