AUSTRALIA UNABLE TO SPEND LOANS
Received Tues'tay, 7 p.m. i-ATjaLY, reu. 11. Treasuryy ligures show that Coninionwealth expenmture toi" the nrsi seven months oi the liniinciiil year 1940-1/ Avas nearly £20, oue. 000 belou the estimated Budget raio. The Jigures also show a rapid increase in revenue except iiicome lax collections which, despite the pay-as-you-earn system, usually lag until the last few months of the linancial year. The Government lias been unable to spend loan inoiiey alloealed for defence and post-war reeonstruction. In the ilrst seven nionths of the year it spent only £13,766,000 of ihe £58,529,000 allowed in the Budget for these charges. Shortages in nianpower and materials have cut down expeiulit ure ou aviation and jnililie works.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19470212.2.18
Bibliographic details
Chronicle (Levin), 12 February 1947, Page 5
Word Count
119AUSTRALIA UNABLE TO SPEND LOANS Chronicle (Levin), 12 February 1947, Page 5
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in