DOMINION FINANCE

New Zealand Times, Volume XXXVII, Issue 8353, 13 February 1913, Page 3

DOMINION FINANCE

REVENUE BUOYANT. STATEMENT BY HON. W. FRASER. A comparative statement of expenditure and revenue for the-ten months ended January 31st, 1913, was give o to a “Times” reporter by the Hon. W. Fraser (Acting-Minister of Finance) yesterday. The Minister made _it clear that figures for such a period were of value only as furnishing a basis of comparison with those for the corresponding period of the previous financial year. REVENUE. “The total revenue f<sr the ten months ending January 31st, 1913, was £9,021,936, against a total for the ten months ending January 31st, 1912, of £8,639,634. The excess for the period just closed was accordingly £382,302. EXPENDITURE. “The total expenditure for the ten months ending January 31st, 1913 was £8,637,509; for the same period ending January 31st, 1912,. £8,310,995 There was thus an excess of expenditure for the period just closed, of £326,514. The net gain in revenue, after deducting the increase of expenditure from the of revenue, was accordingly £55,788. HIGHER INTEREST. “The expenditure for the past ten 1 months had necessarily to .bo higher, because more interest had to be paid on loans, and the expenditure on defence has been higher this year tnan during the previous year. These are only two items, and there were increases in various other directions. Certain items show a reduction. The increases in expenditure amount in the aggregate to £442,019, and' the decreases to £115,509. “Generally speaking, the revenue is in an exceedingly satisfactory and very buoyant condition. The land and income tax receipts, assuming that the payments are all made by the date fixed for their payment, will .be at least 75 per cent, above the estimate. STATE ADVANCES. “Suggestions have boon made in some quarters that money has not been advanced by the lending departments, but during the ten months ending January 31st, 1913, a sum of £1,629,125 has been leut out from the Advances to Settlers, Advances to Workers, and the Local Authorities brxmch.” Mr Fraser did not have the figures for the previous ten . months by him, but indicated that the earlier period would show a considerable increase owing to the policy of the previous administration.