THE FEDERAL BUDGET.
OLI> AGE PENSIONS INCREASE©.
[Pb»BH ASSOCIATION.} MELBOURNE, Sept. 29. Tlie Federal Budget provides for an increase in the old age invalid penjjions from 10s to 12s 6d, which will involve an additional annual expenditure of £87,000. Last year the pensions cost £2,659,766, and xhe maternity allowances absorbed dC6S9 5 715. For new works £4,^04,187 has been allotted, including £150,000 for the Federal capital, on which £856,000 iias alrencly been spent. Tho House received the taxation proposals cheerfu'ly.1 The Federal Treasurer (Mr Higgs) explaining the war profits tax standards of iive and six per cent. \ for lSio-16. and se«?n and eight per cent, for 1916-17 said that the lower rate in each insmnce refers to! companies, jind the higher to private firms, as distingiiished from the prd-war standard.
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Marlborough Express, Volume L, Issue 223, 30 September 1916, Page 7
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130THE FEDERAL BUDGET. Marlborough Express, Volume L, Issue 223, 30 September 1916, Page 7
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