Government Hopes Public Loan Will Finance Deficit
Pension and benefit increases provided. ^0 increase in taxation is proposed in the Budget introduced in the House of Representatives last night by the Minister of Finance, the Hon. W. Nash. An estimated deficit of £50,000,000 in the war expenses account will, it is proposed, be financed by £10,000,000 from departmental funds and £40,000,000 to be raised by public war loans. The resources of the consolidated and social security funds will meet requirements. Increases in war pensions are estimated to cost £625,000 and increases in family and age benefits will take £405?000. The hospital benefit will be increased from 6s to 9s a day. An expenditure programme approaching £4,000,000 is planned for housing, and loan provision for more than £2,000,000 is being made for hydro-electric development. The national development programme of £6,500,000 is £1,500,000 more than last years authorisation.
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Taranaki Daily News, 4 June 1943, Page 4
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146Government Hopes Public Loan Will Finance Deficit Taranaki Daily News, 4 June 1943, Page 4
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