CUSTOMS REVENUE

Rotorua Morning Post, Volume 1, Issue 65, 7 November 1931, Page 4

CUSTOMS REVENUE

("Post" Special Commissioner)

ESTIMATED RECEIPTS NOT REACHED TO "DATE ' '

| WELLINGTON Thurs. I An amended outline of the revenue expected from the Customs Bill was given by the Minister of Finance, the Hon. W. Downie Stewart, in the House of Representatives. "As honourable members are aware," said Mr. Stewart, "the Customs and excise revenue (other than •| beer duty) for the finaneial year 1931-32 was put down in the main Budget at £7,410,000. Owing to various causes arising out of the finaneial and economic depression, it was evident, with the passage of the months, that this estimate could not be realised unless some wholly unexpected development took place. It was therefore decided in the Supplementary Budget to fix the amount to be collected at £6,750,000. This includes a sum of £1,300,000 (hereinafter referred to) expected to be retrieved from duties imposed by resolutions which have been passed from time to time. "The revenue collected during the seven months of the present finaneial year is £3,171,429. This is about £421,000 below the estimiates for that time. After taking into aceount the varying periods during which the resolutions have been in force, it is impossible to read the future, but taking into consideration the possibility of a continued increase in the prices of our primary products, there [ is some reason for believing that relatively higher returns miay be expected for the ensuing months of the year. The principal items' included in the Bill from which inereased revenue is anticipated, and the additional amounts expected from those items during portions of the year in which they will he in operation are as under: Tea £92,000; sugar £210,000; tobacco £240,000; apparel and hosiery £86, 000; silks and artificial silk. £42,500; chinaware £30,000; flporeoverings £18,500; motor spirits £180,000; others items £71,000; primage duty, £180,000; total £1,150,000. "The amount expected from inereased duty on beer is £150,000, making a grand total of £1,300,000. On the motion of the Prime Minister, urgency was accorded the passage of the Bill and the Public Works Statement on Estimates.