8.—6.

upon the restoration of the " cuts " in salaries and wages, together with the shorter working-week. Arising out of the improved, general conditions, an increase in revenue has also been provided for, but in the meantime this is not estimated fully to offset the increased expenditure. The final item in the main headings of revenue is " Other Receipts," which covers the profits of the various State lending Departments, registration fees, national-endowment revenue, and the various miscellaneous items which are too small individually to justify separate headings. In total these are estimated to augment this year's revenue to the extent of £2,155,000, compared with actual receipts of £1,819,000 for last year. In total, then, the revenue for the current year is estimated at £34,778,000, which, as will readily be ascertained, exceeds estimated expenditure by £50,000. A summary of the position is as follows : — Revenue. Taxation— £ Customs .. . .. 10,500,000 Beer duty.. .. . 950,000 Sales tax .. .. .. 3,650,000 Film-hire tax . . . . . . 80,000 Gold-export duty .. .. . 105,000 Highways .. .. .. .. 3,058,000 Stamp and death duties . . . . 3,450,000 Land-tax .. .. .. 1,000,000 Income-tax .. .. .. 7,500,000 Miscellaneous . . . . 45,000 Total taxation .. .. .. 30,338,000 Interest receipts . . . , . . 2,285.000 Other receipts .. .. . .. 2,'155,'000 £ Total estimated revenue .. .. .. .. 34,778.000 Expenditure. £ Debt services .. .. .. 9,396,000 Exchange .. .. .. 1,700,000 Transfer of highways revenue .. 3,058,000 Other permanent appropriations . . 601,000 14,755,000 Annual votes — Social services .. .. 12,168,000 Other votes .. .. 7,505,000 19,673,000 Total main estimates .. .. .. 34,428,000 Supplementary estimates and contingencies 300,000 Total estimated expenditure . . . . . . . . 34,728,000 Estimated surplus . . . . . . .. £50.000 Honourable members will have realized ere this that no alteration in the rates of taxation is contemplated this financial year. The Government have gone some distance along the road of improving the general welfare of the community, and, while much has undoubtedly been done, there is still much to do. The general buoyancy in revenue has enabled substantial improvement to be effected in the Jot of the less fortunate section of the community —the pensioners, the unemployed, and those in receipt of small incomes—and until the Government's objective in connection with a more equitable distribution of the national income has been attained the whole of the additional revenue will be required for this purpose.

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