8.—6

This total of £23,868,250, it will be noted, includes "£1,147,000 —Motorvehicles, duties, &c.," which is not available for general services. Income-tax is not expected to show much response to reviving business resulting from the better trade balance, but, as regards Customs, I have allowed for a small increase to be expected for the remainder of the financial year. ESTIMATED RESULTS FOR THE YEAR, £ Revenue .. .. .. .. .. 23,868,250 Expenditure— £ Permanent Appropriations .. 15,827,398 Annual Appropriations .. .. 7,780,706 — 23,608,104 Leaving a balance of .. .. 260,146 to meet supplementary estimates and contingencies. In arriving at these results I have had to allow for the many factors that at present make accurate estimates difficult to forecast. We are in a transition period when the chief sources of revenue are in full bud, but not yet in flower. I have therefore refrained from placing before honourable members proposals that might under the circumstances bring about at the close of the year a result inconsistent with the policy I have striven to adhere to, that of maintaining the reputation of this country for sound finance.

Estimated results, 1928-29.

4—B. 6.

17