PUBLIC ACCOUNTS

Hokitika Guardian, 7 August 1926, Page 1

PUBLIC ACCOUNTS

INCREASE FOIt JUNE QUARTER

WELLINGTON, August 0. Ike Public Accounts for the quarter ended June 30th were gazetted tonight. The summary furnished by the Treasury Department is as follows; Tka total revenues received for the three months amounted to ,£4,337 580, excluding railways revenue, which is now paid to a separate account. From the first quarter of last year the total revenue received was ,£4,040,438. so that the June quarter of 1950 shows an increase of £297,142 over the same period of last year. Of this increase, .however, the sum of £207,320 represents interest on railways capital liability, and interest on the Public Debt Redemption Fund, which interest was not received during the first quarter of 192-3. The principal increases are: Custom* £17,646, Post and Telegraph £61,742, Income-Tax £13,477, Departmental receipts £37.370- recoveries on account of expenditure of previous years, £32,341. The principal decreases are: Stamp and Death Duties £136,849, Land-Tax £12,754. The total expenditure for the three months was £5,816,812 as-against- the J une quarter of last year (excluding railways expenditure) £5,632,208, an increase of £184,604. There is an item of £130,000 in interest payments under the permanent charges which came to charge in the June quarter this year, hut' later last year. Under the annual appropriations, the principal increases are: Post and Telegraph working expenses £24,920, Department of Internal Affairs £30,077, Defence Department, £25,135. The principal decreases are: Naval defence £23.678, services not provided for £29,590. The excess of expenditure over revenue for the first quarter is usual as the larger collections of main tax revenues arc made in the latter portion of the financial year.