8.—6

The Government's programme for the further development of our resources, extending and improving communications and facilitating our trade generally, now involves heavy commitments. With the application of energy and industry by all classes of the community, we should, with our productive soil and favoured climate, be able to justify our efforts to progress on sound lines that will make for the betterment of the people and the maintenance of the high credit of this Dominion.

SUMMARY OF RESULTS AND PROPOSALS. RESULTS, 1924-25. Consolidated Fund— Ordinary Revenue Account — £ Revenue .. .. .. .. .. .. 28,643,000 Expenditure .. .. .. . . . . 27,399,200 Excess of revenue over expenditure .. .. .. £1,243,800 £ Estimated revenue, 1924-25 .. .. 28,857,620 Less estimated value of concessions granted 883,000 £27,974,620 Actual revenue .. .. .. .. .. £28,643,000 £ Revenue greater than 1923-24 by .. .. .. .. 682,630 Expenditure exceeded previous year by .. .. .. 1,251,195 Salaries and wages increased by .. .. .. .. 672,000 Balance forward at 31st March, 1925 .. .. .. .. 4,150,806 Transferred from accumulated surpluses toPublic Works Fund .. .. .. .. .. 1,000,000 Loans Redemption Account.. .. .. .. .. 1,052,130 Relief from use of surplus revenue— £ Interest-earning investments produce .. .. 780,000 Saving on utilization of money for capital purposes .. 395,000 Total relief thus afforded .. .. .. £1,175,000 No Revenue Treasury bills outstanding. £ Public-works expenditure (including transfer to Main Highways) .. 4,357,440 Electric-supply expenditure .. .. .. .. .. 847,478 Main highways — £ Receipts (a) Revenue Account .. .. .. 459,150 (b) Construction Fund .. .. 226,000 685,150 Expenditure (a) out of revenue .. 127,458 (b) Construction Fund .. .. 225,454 352,912 New agreement in respect of migrants from United Kingdom. £ Customs and excise revemxe .. .. .. .. .. 7,689,192 Increase in Customs revenue over 1923-24 .. .. .. 327,409 £ Exports for financial year .. .. .. 54,771,158 Imports for financial year . . .. .. 49,821,095 Total trade .. .. .. £104,592,253 Excess of exports over imports . . .. .. .. .. £4,950,063

s—B. 6.

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