State Revenue Decrease

Sun (Auckland), Volume IV, Issue 1042, 5 August 1930, Page 10

State Revenue Decrease

MR. FORBES ON FINANCES / Quarter’s Lrop is £650,000 EXPENDITURE DOWN ABOUT £IOO,OOO bew Press Association PARLIAMENT BLDGS., Today. ‘■'IFHE public accounts for the first three months of the finanI cial year show that the revenue for the period amounted to £4,172,123, compared with £4,665,928 for the corresponding- period last year, a decrease of £493,805,” says the Prime Minister, the Hon. G. W. Forbes, in a statement issued today. Customs duties showed on increase of £88,576 for the three months. This increase is made up of an increase of £153,149 for the month of June, which is partly offset by the decrease during the first two months.”

“As pointed out in the Budget, it is quite clear that the receipts for June have been considerably inflated by excessive clearances from bond, due to the fear of tariff increases Stamp and death duties show a comparative decline of £226,115 and interest on capital liabilities of railways a decline of £380,000 “Expenditure for the three months, compared with that for the same period of last year is as follows: 1929 • 1930 decrease Perm, appropss. 1,609,164 3,923,473 745,691 Annual ” 1,651,378 1,639,742 11,630 Totals .. .. (>.£20,542 5,563,215 757,327 The decrease under permanent appropriations includes large nominal decreases as follows:—lnterest, £1)4,158, due to alteration in dates of payment consequent upon conversion operations: £2,462,400, under repayment of public debt due to earlier pay-

ments made last year, also motor vehicles and licences, £92,039, due to accounting fluctuation. “It will be noted that decrease under annual appropriations is only £11,636, but economy measures taken by the Government only became effective toward the end of the quarter and larger decreases will be shown for the balance of the financial year. “To sum up the position, allowing for inflation of .Customs’ receipts, revenue shows a comparative fallingoff of about £650,000, and expenditure, allowing for nominal reductions, a decrease of about £100,04>0.”