EMPLOYMENT FUND

Waikato Times, Volume 125, Issue 20915, 21 September 1939, Page 3

EMPLOYMENT FUND

BIG INCREASE SHOWN FULL-TIME WORK PROMOTED Payments from the Employment Promotion Fund for the year ended March 31 last totalled £6,473,808, which represented an increase of £2,234,352 on the previous year’s outgoings from this fund. These \ figures are disclosed in the annual report of the Labour Department, which gives a summary of the state of the fund. The year commenced with a balance of £1,158,890, states the report. The revenue received during the year, amounted to £5,522,462, as against £5,145,101 for the previous year, an increase of £377,361. The sum of £468,588 was received from the registration levy, £3,340,406 from wages tax, £1,652,208 from the charge on

“other income,” and £61,260 from penalties for late payment of the levy, interest, and other miscellaneous receipts.

Compared with the previous year the revenue from employment charge increased by £336,449, which represents an increase of 7.23 per cent, the increase in Hie revenue from wages tax was £312,916, or 10.33 per cent. This represents an increase of £9,387,480 during the year ended .March 31, 1939, in the amount of salaries and wages paid lo persons liable l'or the tax, as compared with an increase of £12.000,000 in the year ended March 31, 1937, and £13.100,000 in the year ended March 31, 1938. Special Charge The increase in 1 lie revenue from Hie special charge oil “other income" as compared with llie collections lor the financial year ended March 31. 1938, is £23,533, or l.ii per cent. This represents an increase of £705,990 during the year ended March 31, 1938, in the incomes liable for this charge. As the ctharge un income other than salary or wages is not payable until the year following that in which it is actually received, the amount received by way of “other income" during the year ended March 31. 1939. will not he available until returns lor the year have been fully analysed. Tlie payments from the fund during the year amounted to £6,473,808, an increase of £2,234,352 as compared with the previous year. During the past year the policy of placing all physically fit men in full-time employment on useful works of a national or local character has been vigorously pursued, and expenditure amounting to £4,595,290 was incurred in the. promotion ol' full-time employment. Increases are also shown under the heading of “assistance to industry” (£118,459) and “loans” (£65,407), while reductions have been effected under almost all other headings. The payment of sustenance allowances to persons who, for health or other reasons, were unfit for sustained employment absorbed the sum of £667,149. The balance remaining in tlie fund at the end of tlie year was £207,54 i. The major portion of this balance will lie. absorbed in the payment of outstanding commitments at March 31,

1939, and as no further revenue will be payable into the Employment Promotion Fund provision for expenditure to be incurred in the promotion of full-time employment will in future be subject to appropriation by Parliament in terms of the Public Revenues Act, 1926.