N.Z. REVENUE

Hokitika Guardian, 9 November 1929, Page 5

N.Z. REVENUE

HALF YEAR’S SURPLUS

NOT ENOUGH TO BALANCE

BUDGET

(By Telegraph—Per Press Association.)

WELLINGTON, Nov. 8

The Acting Leader of the House, Air Forbes, made a statement in Parliament to-day on. the half year’s accounts. He said: “The revenue for the six months was £10,109,347, compared with £9,183,309 for the corresponding period of the previous year, an in.•reuse of -£986,(413. After allowing for Hiiotuatoiiis of dates of accounting, for various sums, and also for the increase in the petrol and other duties, fees, and licenses ct.l----l 'cted for the Main Highways Board, the actual increase is £710,417, which is not quite half of the increase in revenue required for the year to balance the Budget. The Customs revenue for the six months shows an increase of £593,662 over that of the same period of the previous year. This is mainly due to an increase of imports by approximately £3,093,320, on which duty, has been collected as follows:—Motor vehicles, .£270,600; wines, spirits, etc.) £120,000; other goods £98,000; primage, £29,000. The extra one per cent primage since it has been in .operation has accounted for £76,5C0 of the increase. The Minister added: “On the basis of the six months’ figures for the current year as compared with the past vea-r, the revenue has increased ny £710,600, and the expenditure of £567,000, the difference of £143,000 being insufficient to wipe out one half of last year’s deficiency of £577,060.” ’ : “ Dealing with loan conversion, he stated that the final operations in connection with the New Zealand Consolidated four per cent stock, amounting to twenty-nine millions, which matured on the Ist of November, have been practically completed.