DOMINION'S FINANCES.

Taranaki Daily News, 16 October 1918, Page 5

DOMINION'S FINANCES.

.. FOR -FIRST HALF-YEAR. By Telegraph.—Press Association. Wellington, Last 'Night. Interviewed to-night, . Sir Joseph Ward said the consolidated revenue for the sis months ended September 30, 1818, amounted to .£7,05G,0!>8, as compared with. ,£0,049,§5S for the corresponding period of last year. The Bet increase was £1,007,140. The expenditure for the same period amounted to £8,252,781, against £6,485,80-1 for the corresponding six months of last year. The increase--of expenditure was thus £1,766,917. These figures show the increased expenditure for the first six months of the current financial year exceed the increased revenue for the same period by £759,777. The heavy increase in expenditure is due to interest and sinking fund charges and war pensions. Under the heading of revenue, the increases for the six months ended September 30 last are:—Customs, £191,041; stamps and death duties, £]'12,580; Postal and Telegraph, £166,104!; land tax', £47,050; income tax, £75,553; beer duty, £30,522; railways, £234,244; registration and other fees. £2063; miscellaneous £143.226; national endowment, £8931: other receipts, £3OOO. The decreases of revenue are; Marine, JSISB2, and territorial, £5353) tearing a

imHMTti'nfrrWTH*"" '» " — . net increase o{ roveiiue for the perioi-ol J £1,00.^,140. The expenditure increases in interest ; and sinking fund for the period amount- - ed to £1,140,519. Other increases in eat-, penditure were:—Under special Aatl/f £420,231; civil li::t, £1*335; Finance paKment, £18,01:7; Post and Telegraph, s 101,121; railways, public ' buildings, £5832; Native Department, : j •CIGSS; Justice,'£l2,93l; Mines, £oM9j' j Tnlemal Affairs, -CM,s33;.Customs and j Marino, £EB3B; Tabor £1758; -Lands and Survey, £17,077; Education, CS9,654.

The decreases in expenditure 'during the period were:—Legislative, £#6oß; Defence, £13,561; agricultural, £20,720} services not provided for £2O,S©; ptuv chase of wheat, £128,302. The increase# in expenditure make a total of £1,0(11,017, and the decreases a total of £ 104,100, leaving a net increase in .expenditure of £1,706,317.

If we contrast the ordinary 'depart* mental expenditure, exdnsive of rater-' est, sinking fund, and other permanent charges, stated Sir Joseph, it will be found that the expenditure for the she months ended September 30 comenJßtt that for the by £332,984. ■ •»,

In view of the fact that the twiteß half of the financial year as regsnffe-sceJ venue has still to come, I think UnP;} position may be considered satisfactory '5 The greatest increases of departmental expenditure are under the headings of ' Railways, Post and Telegraph, and Edlfr cation. In the case of Railways, thiS j Department's increased revenue for th» •■' six months is less than the increases-ear-' " penditure. The increase of revsnne 5a ; , the Post and Telegraph Department as ' nearly double the increased expettßfanfe The Public Works Department shwS-tffia' increase of £44,<189 in expenditure, compared with the corresponding p6tto3 - of Jast year. Expenditure ont of Site Public Works Fund still continues td Be - •well regulated, and no difficulty IBs ' been found by the Treasury in providing for the requinynents of the Depart l ment. In the Public Works Fund, aAJqJ the Minister of Finance, the expein® J ture for the six months ended September 30 shows aft increase of £7148 over the expenditure for the corresepoircEng period of 1017. The increases ares—• Public buildings. £fts92; lighthouses, etc., £1774; tourist and health resorfay - 1 £117; immigration, £O6; *oads azvl' • bridges, £17,283; telegraph extension,- . £59.213; contingent defence, j#' rigation and water supply £828; plant, material, and stores, £4893. ' _ \

The decreases in the public WorJ®-ex-penditure were:—Railway 'coastmoSoriy £81,008; development of mining, ©fTy lands improvement, £180; unaTtfhblwed,' £4005. . The net increase in poMic! works expenditure was thus