N.Z. FINANCES

Hokitika Guardian, 5 August 1930, Page 5

N.Z. FINANCES

THE QUARTER’S FIGURES

(By Telegrapn—Per Press Association.)

AYELLINGTON, Aug. 5.

The following statement was issued by the Prime Minister :■ —The public accounts for the first three months of the financial year slioav that the revenue for the period amounted to £4,172,123, compared with £4,665,928 for the corresponding period last year, a decrease of £493,805. Customs duties showed an increase of £88,576 for three months. This increase is made uip of an increase of £153,149 for the month of June, partly offset by a decrease during the first two months.

As pointed out in the Budget, it is quite clear that the receipts for June had been considerably inflated by excessive clearances from bond, due to a, fear of tariff increases.

Stamp and death duties show a comparattee decline of £226,115, and interest on capital liabilities of railways, n decline of £380,000.

The expenditure for three months compared with that for the same period of last year was as follows: — Permanent appropiatious, 1929, £4,669,164; 1930, £3,923,472, a decrease of £745,691.

Annual appropriations £1.651,378 and £1,639,742. a decrease of £11,636. Total £6,320,542 for 1929 and £5,563,215 for 1930, a decrease of £757,327.

Decrease under permanent appropriations includes large nominal decreases as folio avs ; — lnterest £94,158 due to alteration in the dates of payment consequent upon conversion operations; £4.62,400 under repayment of public delrt due to earlier payments made last year; also motor A r eliicles and licenses, £92,039 due to accounting fluctuation. It Avill be noted that the decrease under the annual appropriations is only £11,636 but the economy measures taken bv the Government only became effective towards the end of the quarter and a larger deeroaso will

! be shown for the balance of the financial year. To sum up the position, allowing for inflation of customs receipts, the reenue shows a comparative falling off of about £650,000 and the expenditure allowing for nominal reductions, a decrease of about £IOO,OOO.