Federal parliament

Dominion, Volume 10, Issue 3112, 16 June 1917, Page 7

Federal parliament

HEAVY COST OF THE WAR Increases in. expenditure alarming ,••■ Melbourne, June 15. " In the House of Representatives, the Federal Treasurer, in delivering the Financial Statement,, said that the..Customs' revenue was expected to show a de.fioit of -',£1,828,000,- due chiefly to the decreased number of ships' from oversea ports. The defence expenditure, not- including the war expenditure, is estimated at .£5,392,68!). From the , beginning of the war ordinary naval and military expenditure, and 1 expenditure on works, arms,-equipment, naval bases, and the construction of the fleet .had. been .£15,033,193. The total war expenditure was .£129,114,206. of which Bum wa9 met.out of loans. The financial position had become very difficult, and the return to easy conditions seemed far oft'. The successive ac- . cumulative increases in expenditure were .alarming, but,'it. was. not possible Jior opportune to indicnte what should be done to provido .6nancial .arrangements ■for the ensuing year.' -■„ . ' Referring to old age and" invalid pensions, Sir ,Tohn. Forrest said that nearly ,1\ per cent, of the total adult population was in receipt of these pensions inYolvinff an expenditure 'of ,£3,660,000. ihe Treasurer concluded that it was clear that" a very laffre additional revenue would be required next year. The Supply Bill passed both Hoases.Tress Assn. ■