N.S.W. FINANCE

Hokitika Guardian, 26 June 1931, Page 5

N.S.W. FINANCE

THE WAR TAX BILL,

(Australian Press Association.)

(Received this day at g a.m.)

SYDNEY, June 25

The War Tax Bill was delayed until to-morrow. Official rates are.—Persons receiving four to five pounds sterling weekly will pay one shilling in the pound; five to six pounds sterling two shillings; six to seven 2 shillings 6d ; seven to ten pounds sterling 3s ; ten pounds sterling or over will pay a flat rate of ss.

The view is expressed that the Legislative Council will throw the measure out and thus cause a crisis, possibly a general election, as Mr Lang has no other means of raising funds.

TO REDUCE INTEREST RATES

MELBOURNE. June 25

A conference of trading banks presided over by Sir Robert Gibson, Chairman of the Commonwealth Bank to-dav decided to reduce interest rates on June 26 as follows:—Fixed deposits new money and renewals, three months, 31 per per annum ; six months 35; twelve months 4 per cent. ; twenty-four months 4j, per cent. Advances rates generally- will ,be reduced in due course. The Commonwealth Bank announces deposit rates have been reduced by one per cent as from June 26. Advances rate will be reduced one per cent, on July 1.