REVENUE AND EXPENDITURE.

Hokitika Guardian, 27 November 1923, Page 2

REVENUE AND EXPENDITURE.

FIGURES FOR SEVEN MONTHS. AUCKLAND. Nov. 22. A statement setting ul the revenue and expenditure of the Dominion for the first seven months of the year, was made by the Hon. W. Dowuie Stewart. Acting-Minister of Finance, at the Chamber of Commerce luncheon to-day. It showed that the total revenue- for the last seven months was £12,35(1,--I 18, compared with £11,042,010 for The principal decreases, were:— e Customs 035,915 Income-tax 258.25 A The prineipa decreases were:— r Post and Telegraph ... J 35. fid Interest on public moneys 277.804 Tho decrease in the last item was due to the non-recovery of six months' interest from the Discharged Soldiers’ Settlement account, which was in need of money for re-issue and advances. The net increase ol revenue for the seven months was £713,838. The Minister said he thought these figures showed the extraordinary recuperative [lower of the Dominion. He pointed out that it was during the last few months of tile year that the two great sources of revenue—land tax and income-tax—came to hand, and also that during the summer the railway returns customarily showed a marked increase. Ho was hopeful, therefore, that the financial teat would show a satisfartorv result. The substantial reductions in taxation had to he taken into consideration, but it was not yet possible to estimate the effect of these concessions, continued the Minister, who refuted the allegation that llu-e had been at the expense of the poorer see- j tions of the community.