DOMINION’S FINANCES.

Manawatu Herald, Volume XXXVIII, Issue 1634, 7 November 1916, Page 3

DOMINION’S FINANCES.

A SATISFACTORY POSITION.

Auckland, November 5

The Acting-Minister of Finance has furnished the following tigures showing the revenue and expenditure for (he Consolidated Fund for the seven months ended October 31, the revenue for the same fund for the month of October, also the position of the Public Works Fund from April 1, 1910, to October 31, 1910.

The figures show that tor the past seven mouths the revenue lias exceeded that of the same period of last year by £995,311). The increase of expenditure during the same period was £289,813. As is usually the ease the increased exjxenditure occurred chiefly in permanent charges and under special acts. This is accounted for by the increased charge for interest and sinking fund. The war pensions and war bonus departmental expenditure shows a nett decrease over same period of last year of £130,100. The credit balance on October 31 amounted to £7,809,418 and a surplus of last year carried forward was £2,100,1)77, it will be seen that the balance has been reduced by £350,659 since April. ‘•'This, however, is not unusual,” Mr Myers explained, “as the revenue for the winter months is always below the average.” The Minister states that present prospects indicate that at the end of the financial year there will be a. surplus of considerably over two millions.