AUSTRALIAN FINANCE
(Press Assn.-
; * . [ • ; NOTABLE -IMPROVEMENT COMPARED WITH YEAR AGO LOAN COUNCIL TO MEET
— By Telegraph — O ,-pyright).
Rec. Jan. 11, 7.50 p.m. CANBERRA, Monday A special meeting of the Australian Loan Council has been convened for January 27, to consider the financial position of the various State Governttients, The first half (of the Cotnmonwealth financial year closed -with a de-i ficit of £1,231,000, compared with £9,000,000 in December, 1930. The enormous improvement is due, however, partly to the war debt moratorium- and ■ economies effected under the • Premiers' • Conf e!rence rehabilitation- plans, and in some measure to rising revenue in accordance with brighter trade conditions. The "Sydney Morning Herald" says there is a possibility that Mr, S. M. Bruce -will be appointed permanent chairman of the Loan Gouncil during the period of the Lyons' Government. : ■ Within the next week the Federal Ministry will deal with the major problem of finance. The Prime Minister, • Mr. J. A; Lyons, stated - that the Treasury officials are preparing a comprehensive •analysis qf the, financial position of the ■ Commonwealth; • which,- togethet with reports from State officiala, . will be placed before- the next meeting of the Loan Council.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 119, 12 January 1932, Page 5
Word Count
192AUSTRALIAN FINANCE Rotorua Morning Post, Volume 1, Issue 119, 12 January 1932, Page 5
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