WARNING TO AUSTRALIA
MR. THEODORE ON FINANCE • ECONOMY ESSENTIAL United P.A.—By Telegraph Copyright SYDNEY, Thursday. When speaking at a luncheon at the Royal Agricultural Show, the Federal Treasurer, Air. E. G. Theodore, said there would be a diminution of £10,000,000 in the national income of Australia this year, in addition to a falling off in Customs revenue owing to the restrictions on imports. There would also be a shortage of taxable income of about £30,000,000. Mr. Theodore added: “Whether we like it or not, there must be economy in all departments of Government and public commercial life. When we do go on the London market the entire proceeds will be required for the reduction of existing overdrafts in London, and for retiring certain Treasury bills recently sold to the market. There is no prospect of Australia looking to London for loan money for public works for a considerable time.”
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19300419.2.86
Bibliographic details
Sun (Auckland), Volume IV, Issue 951, 19 April 1930, Page 9
Word Count
149WARNING TO AUSTRALIA Sun (Auckland), Volume IV, Issue 951, 19 April 1930, Page 9
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