PREMIERS' CONFERENCE.

Taranaki Daily News, Volume LII, Issue 179, 21 August 1909, Page 2

PREMIERS' CONFERENCE.

COMMONWEALTH AND TIIE STATES. FINANCIAL ARRANGEMENTS. By Cable.—Press Association.—Copyright Melbourne, August 20. The State Premiers anil Mr. Deakin, Federal Premier, have reached an agreement regarding the future financial arrangements between the Commonwealth and the States. It will be ratified to-morrow when the Premiers meet again, unless a hitch occurs over some of the details 'still to be settled. Though no official information is forthcoming, it is understood that the agreement provides for the CMsmomvealth to refund to the States 20s per head of population annually, and that the scheme will be put in force at once,'the expiration of the Braddon clause being anticipated by a year. This is for the purpose of giving Sir John Forrest. Federal Treasurer, enough money for the coming year without having to obtain a loan. It is further understood that the new arrangement is to be in perpetuity. An amendment of the constitution which the change may necessitate will he submitted to the electors in March next.

IMPORTANT ItESOUTIOXS Received 20, 10.25 p.m. Melbourne, August 20. The Premiers' Conference resolved—(l) To make a complete investigation 'n regard to consolidating and trais[erring tile State debts; (2) Unit in order to give freedom to tlie Commonwealth in the levying of Customs and excise duties, the Common, wealth shall after the first July, IDIO, pay monthly to the States a sum calculated at the rate of twenty-five shilling per annum per head of population j (3) In view of the heavy obligation incurred over the payment of old age pensions, the Commonwealth may durin" the current financial year retain from the amount to he returned to the States a sum not exceeding ,£(100,000. (-1) That an annual payment should he made to Westralla of a quarter of a million in 1910 and 1011, after that year the amount diminishing at the rate of £IO,OOO annually, half of this special amount to be deducted from the sum paid by the Commonwealth to other States.