JAPANESE BUDGET
Bid To Arrest Recession
(N.Z.P A. -Reuter — Copyright) TOKYO, January 6. Tax cuts, public works and other measures designed to lift Japan out of its current recession were featured in a draft for the 1966-67 Budget, approved by the Cabinet today. The budget totalled £4,314,270,000—ab0ut 18 per cent more than the original draft for the current financial year. Cuts in income tax and corporation tax totalling £296m and flotation of national bonds worth £73om are envisaged. Some Government agencies are expected to seek further appropriations before the Cabinet gives the Budget final approval for presentation to the Diet later this month.
Oil Flows At Alton Field
(N.Z. Press Assn.—Copyright) SYDNEY, Jan. 9. Union Oil Development Corporation reports that Union-Kern-A.O.G. have begun production of the Alton field at the rate of about 1050 barrels a day.
This oil is being trucked to Moonie for transport by pipeline to Brisbane.
Production at the Moonie field is at present averaging about 9200 barrels a day.
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Press, Volume CV, Issue 30954, 10 January 1966, Page 9
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164JAPANESE BUDGET Press, Volume CV, Issue 30954, 10 January 1966, Page 9
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