STATE DEFICITS
POSITION IN AUSTRALIA COMMONWEALTH BANK BOARD'S PROPOSAL Press Association—By Telegraph—Copyright. SYDNEY, June 20. * (Received June 21, at 10.30 a.m.) The ‘ Herald’s ’ Melbourne representative says: Replying to a request from the Loan Council for short-term accommodation covering estimated deficits of £6,750,000 during the next financial year, the Commonwealth Bank Board stated that it regarded Treasury bills as a form of temporary finance justified by the economic crisis. It invites the Governments to finance their deficits themselves. As this means borrowing in the open market, the plan is not likely to bo acceptable to the Loan Council. It is expected that the Governments will reduce their estimated deficits for 1934-35 to £5,000,000 or less in the hope that the Commonwealth Bank Board will agree to cover this reduced estimate.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/ESD19340621.2.93
Bibliographic details
Ngā taipitopito pukapuka
Evening Star, Issue 21752, 21 June 1934, Page 9
Word count
Tapeke kupu
129STATE DEFICITS Evening Star, Issue 21752, 21 June 1934, Page 9
Using this item
Te whakamahi i tēnei tūemi
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in