DOMINION’S FINANCES
SIX MONTHS’ RETURNS ESTIMATES AND RECEIPTS Press Association ■* WELLINGTON, Today. The Prime Minister has issued a further statement on finance, elaborating details given to the House by the Hon. G. W. Forbes yesterday. Following is a comparison of the revenue received under the principal heads for six months with the estimated revenue for the year, eliminating land-tax and income-tax, which are payable late in the financial year. REVENUE Estimated Received on Budget, for half yr. Customs £8,400,000 £4,368,216 Beer Duty .. . . .. £600,000 £281,167 Stamps and death duties £3,614,000 £1,698,158 Int. public moneys £820,000 £362,290 Int. on Capital liability working railways £2.450.000 £1,140,000 Post and Telegraph £380,000 £IBO,OOO Int. on Public Debt Redemption Fund £995,000 £496,455 Totals £17,359,000 £8,527,455 Sir Joseph Ward says it will be noticed that, with the exception of Customs, the revenue received is less than half the amount estimated for the year. With regard to expenditure, the principal increases under permanent appropriations are:—lnterest, £383,137; repayment of Public Debt Act, 1925, £362,400. This increase is nominal, and is due to an earlier payment this year. Under annual appropriations are agriculture, £27,465; education, £69,170; maintenance and repair of roads, £24,613; external affairs, £31,820; electoral, £21,642. Decreases in other votes reduce the total increase in the annual appropriations to £23,492. CONVERSION OF 1929 DEBT Press Association WELLINGTON, Friday. A statement was made today by the Hon. G. W. Forbes that the final operations in connection with the New Zealand consolidated 4 per cent, stock amounting to £29,000,000, which matured on November 1, have been practically completed. A balance of £9,700,000 remained to be dealt with and a conversion offer to holders of £5,000,000 was underwritten in September. Over £3,500,000 were converted into 5 per cent stock and the balance of the £5,000,000 was taken up by the underwriters.
Payment of £4,700,000 outstanding was made by the High Commissioner in cash.
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Bibliographic details
Sun (Auckland), Volume III, Issue 816, 9 November 1929, Page 11
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311DOMINION’S FINANCES Sun (Auckland), Volume III, Issue 816, 9 November 1929, Page 11
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