Manawatu Herald THURSDAY, OCTOBER 17, 1918. STATE FINANCE.

Manawatu Herald, Volume XL, Issue 1891, 17 October 1918, Page 2

Manawatu Herald THURSDAY, OCTOBER 17, 1918. STATE FINANCE.

THE Minister of Finance (Sir Joseph Ward) has given a statement of the revenue and expenditure of Cue first half of the financial year (to JOlh September), compared with the same period of the previous year. The revenue amounted to £7,050,998, an increase of £ 1,077,1 10. The expenditure rose from £0,485,804 to £8,252.781, an increase of £1,700,197. ■ Thus (lie expenditure exceeded the revenue hy £750,777. ‘■'This increase of expenditure,” says the Minister, “is due to the increased interest and sinking fund charges and pensions. If wc contrast the ordinary .Departmental expenditure, excJu.-ive of inf crest and sinking fund and other permanent charges, it will he found that the expenditure for the six mouths ended JOlh September, 1918, exeeeded’that for the corresponding period of 1917 by £352,994. In view of the fact that the better half of the year as regards revenue is still to come, I think the position may he considered satisfactory. The greatest increase in Departmental expenditure are under the headings of Railways, Post and Telegraphs, and Education,. In the ease of the Railway Department, the increased revenue for the six months is less than the increased expenditure; hut the increase of revenue in the Postal Department is nearly double the increased expenditure. The Public Works Department shows a decrease of £44,089, as compared with the first six months of the previous financial year. The expenditure out of the Public Works Fund still continues to be well regulated, and no difficulty has been found by the Treasury in providing for the. requirements of the Department."' The

increase in the expenditure under the heading of interest and sinking fund, was £1,140,519.