BRITAIN’S FINANCE.

Taranaki Daily News, 3 October 1921, Page 5

BRITAIN’S FINANCE.

BIG FALL IN REVENUE. EXCEECS THE ESTIMATE. FIGURES FOR HALF-YEAR. Bj Telegraph.—Press Assn—Copyrigtt. Received Oct. 2, 5J> pan. London, Oct. 1. The half-year’s revenue is £456.163,000, made up as follows: Customs, £63,315,000; excise, £93,425,000; stamps, £7,386,000; property and income tax, £140,057,000; excess profits, £27,264,000. The decreases, compared with the similar period of 1920, are: Customs, £4,516,000; stamps, £5,340,000; excess profits, £82,336,000. The increases are: Excise, £4,579,000; property and income tax, £13,-* 702.000. The Budget estimated the reduction at £200.000,000. Compared with the previous year’s revenue, the figures for the half year show a reduction of £163,000,000. The half year’s expenditure has decreased £43,000.000 compared with 1920. The Chancellor of the Exchequer estimated a decrease of £144,000.000 for the whole year.—Aus.-N.Z. Cable Assn.

BRITAIN’S EMPTY PURSE. DEFICIT TO BE MET. MORE BORROWING EXPECTED. London, Sept. 22. Further considerable Government borrowing is probable during the next three months to meet the deficit in the national accounts. The Budget provided for a decrease in the revenue for the financial year of £200,000.000. It has already decreased £150,000,600 in less than six months. The revenue a week ago showed a deficit of £41,500,000 on the Budget estimate. The expenditure side of the account also is unsatisfactory, owing to the exceptional payments to farmers, railways and unemployed. Temporary borrowing from the Bank of England is likely in the near future. The fresh inflation probably will cause a rise in wholesale prices, and may be expected to stimulate trade in some commodities.