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Home My WebLink AboutThe Exeter Times-Advocate, 1937-05-13, Page 7THE EXETER TIMES-ADVOCATE PROVINCE OF ONTARIO Announces the Results of the “Pay-As-You-Go Policy” for the Fiscal Year, April 1, 1936 to March 31, 1937 Statement of Ordinary Revenue and Expenditure for the Fiscal Year ended March 31, 1937 THURSDAY, MAY 13th, 1037 ONTARIO A NET ORDINARY REVENUE NET ORDINARY EXPENDITURE ‘ i$ I ■ - *! 54,238.58 Public Debt—Interest, Exchange, etc. Unemployment Direct Relief and Administration thereof $71,174,501.41$80,488,439.95 0 ■■ $33,098,165.39Reduction in Gross Debt for the Year. £12,000,000.00.... $ 26,139,823.64 CERTIFIED TRUE AND CORRECT Provincial Auditor & J e * 4 t * 5 "J, ftji • f ». U s $57,904,444.12 13,270,057.29 $37,360,453.77 20,543,99.0.35 Sf. r.j b' $50,000,000.00 38,000,000.00 Prime Minister and Provincial " Treasurer. ’V Department Agriculture ............. Attorney-General . Education............... Game and Fisheries Health .................... Highways— (a) Signs, Pumps, Garages, etc. (b) Gasoline Tax (less refunds) (c) Motor Vehicles....................... Insurance ................. Labour ..................... Lands and Forests ... Legislation ............... Mines ....................... Prime Minister ....... Provincial Secretary Provincial Treasurer—(including Succession Duties Collected, $15,991,350.80) Public Works............................................................................. .......................................... Stationery Account—(Excess of Distribution over Purchases) ........................ Amount 807.65 1,290,603.33 1,803,92 782,217.63 38,485.95 26,976,444.23 237,840.86 7,316.17 2,974,907.54 6,927.07 2,110,581.32 22,632.20 680,750.23 45,344,211.91 7,283.34 5,626.60 RECAPITULATION Ordinary Revenue and Expenditure Ordinary Net Revenue as above.....................:................................................................................. Ordinary Net Expenditure as above (before providing for Unemployment Direct Relief).... $80,488,439.95 57,904,444.12 Surplus—(before providing for Unemployment Direct Relief) ............................................... Less—Unemployment Direct Relief and Administration thereof...................................... $22,583,995.83 13,270,057.29 Surplus for the Fiscal Year ended March 31, 1937..........................0 9,313,938.54 THE DEBT POSITION OF THE PROVINCE OF ONTARIO As at the close of the fiscal year ended March 31, 1937 GROSS DEBT As at March 31, 1936 As at March 31, 1937. DEBENTURE DEBT (LESS SINKING FUNDS) As at March 31, 1936 ..................................................................................................., $ 594,112,954.50 As at March 31,1937 ......................................................................................................* 567,973,130.86 Reduction in Debenture Debt for the Year. In pursuance of a promise made during the Third Session of the Nineteenth Legislature of the Province of Ontario^ I take *this opportunity of publishing, for the information of the citizens of Ontario, the above financial report, together with this announcement as to the plans of the Government for passing on to the people certain benefits made available by reason of the surplus of $9,313,938.54, realized last year;— MUNICIPAL DRAINAGE AID AND TILE DRAINAGE DEBENTURES A reduction in interest on Municipal Drainage Debentures and Tile Drainage Debentures effective April 1, 1937, from 5 per centum to 4 per centum. PASSENGER MOTOR CAR LICENSE FEES A substantial reduction in passenger motor car license fees will be announced before October 15 next. LICENSE FEES ON COMMERCIAL VEHICLES • - Effective on November 1, 1937, when the 1938 permits will be available, there will be a reduction of 25 per cent, in the fees to be charged for the registration of all farm trucks and all other commercial motor vehicles and commercial trailers. The approximate annual saving will be $1,000,000.00 to the op erators of commercial vehicles. PROVINCIAL SUBSIDY The Provincial Government will pay, by way of a grant, to every city, town, village and township of the Province a sum represent ing the equivalent of one mill on the dollar of their respective assessments for general municipal purposes. This grant is made unconditionally but in the expectation and with the intent that the amount shall be passed on to the taxpayers of every commun- ity by a reduction of one mill in the general municipal tax rate. This subsidy will amount, in the aggregate, to the sum of approx imately $3,000,000.00. ROAD SUBSIDIES TO TOWNSHIPS The 313 Townships which have in the past received subsidies Of less than 50 per cent. Will enjoy an increase to 50 per cent. The annual benefit to the 313 Townships will be approximately— $300,000.00. Department Agriculture ......................... ................................................................. Attorney-General ........................... ........................................ Education............................................................................................. Game and Fisheries ,...................................,...................................... Health ........................... .... Highways .................................. . Insurance ............................................................................................. Labour ................................................................................................ Lands and Forests................................................................................ Legislation ............................................................................................ Lieutenant-Governor ........................................................................ Mines ................................................................................................... Municipal Affairs................................................................................. Northern Development...................................................................... Prime Minister...................................................................................... Provincial Auditor ............................................................................. Provincial Secretary.............................................................'•............. Provincial Treasurer........................................................................... Public Welfare .................................................................................... Public Works........................................................................................ Miscellaneous—Including Workmen’s Compensation Board— (Payment to Board, $47,458.15) ........................................... Amount $ 1,546,471.94 2,290,164.08 10.001,950.31 446.131.57 , 6,128,023.08 4,931,306.65 65,247.87 270,973,87 1,890,019.83 270,314.38 12,459.73 319.660.58 63,053.57 1,407,475.63 153,896.20 112,577.29 863,237.41 962.164.58 5.005,388.34 565,698.28 V r $689,558,513.76 656,460,348.37 TREASURY BILLS OUTSTANDING As at March 31,1936 ...................... ...»............................ As at March 31, 1937 ................................................................................................. Reduction in Treasury Bills for the Year,,,,...,.,,,,,,, OLD AGE PENSIONS AND MOTHERS’ ALLOWANCES To further take the burden off real estate, the Provincial Govern ment will assume the municipalities’ share of Old Age Pensions and Mothers’ Allowances. This will enable the municipal councils to reduce their taxation by approximately $3,500,000.00 per annum. PENSIONS FOR THE BLIND The Province will assume the municipalities’ share of the cost of this social legislation. It is estimated that the municipalities will therefore save approximately $100,000.00 per annum. AMUSEMENTS TAX Effective June 1, 1937, the Amusements Tax will be totally abolished. As over 80 per cent, of the amusements tax is collected from admissions of 25 cents or under, the benefit, largely to citi zens of lesser means, will amount to $1,500,000.00 for the year 1937.