NATIONAL FINANCES

Wairarapa Times-Age, 10 November 1943, Page 3

NATIONAL FINANCES

ACCOUNTS FOR HALF YEAR.

POSITION GENERALLY SATISFACTORY.

(By Telegraph—Press Association.) WELLINGTON, This Day.

The raci/ounts to date reveal a satisfactory position, and it is confidently anticipated that the Budget estimates will be maintained, and the country’s finances continued on a sound basis, the Minister of Finance (Mr Nash) stated today, when reviewing the public accounts for the first half of the present year. Consolidated Fund revenue amounted to £18,112,000, compared with £15,907,000 in the first half of 1942, the percentage of the estimate for the six months to the total for the year being 44, compared with 38 in 1942. Expenditure totalled £16,574,000, compared with £17,798,000 in 1942, the percentage being 40 as against 45 last year. Mr Nash commented that these results were substantially in accordance with the estimates. Receipts under practically every heading showed a buoyancy in excess of last year. Social Security Fund receipts were £5,949,000, compared with £5,438,000 in the first half of 1942. Mr Nash said the expenditure increase was slightly more than half of the estimated increase, but this was balanced by a greater increase in revenue than had been expected. Receipts in the war expenses account were £85,533,000, and expenditure £76,189,000. Mr Nash said the receipts were substantially in excess of the budget estimate, but this was mainly .due to a major war loan being raised rn the first half of the year.

(There had been a substantial increase in national savings, the figure being £8,729,000, compared with £2,279,000 last year. Otherwise the figures were substantially in accordance with the Budget estimate.