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TRANSPORT UNDERTAKING PROVIDES RATES RELIEF.

25th February 1938, Page 63
25th February 1938
Page 63
Page 63, 25th February 1938 — TRANSPORT UNDERTAKING PROVIDES RATES RELIEF.
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Which of the following most accurately describes the problem?

RATEPAYERS of Northampton have again to thank the corporation's transport undertaking for a rate relief of £2,000, allocated from a total estimated profit of £6,623 on the current year's working. The allocation is a decrease of £2,000 compared with last year, and profits are estimated to be down by £6,498, despite an increase in revenue of £3,487.

An increase in working expenses of £9,165 accounts for the reduced profits. Despite this, however, the committee reports that the state of the undertaking is satisfactory, and that the debt, which stands at £35,000, is much below the value of the concern.