£12,000,000 A MONTH
AUSTRALIAN WAR COSTS.
INCREASES LIKELY.
Current rate of expenditure on the war in Australia is about £12.000,000 a month; this will increase when large defence works, which are just beginning. are in full progress and when recruiting for the A.I.F. is resumed. A bulletin from the Commonwealth Department of Information, released in New Zealand by the Australian Trade Commissioner (Mr C. E. Critchley), says that for the full current financial year the present estimate of expenditure is over £177,000,000, which is more than three times greater than last year’s total. This amount of about £177,000,000 must be regarded as a “basic” figure and is likely to be exceeded since indications point to further increases in war expenditure. Preliminary estimates of war expenditure for 1940-41, together with amounts for last financial year, distributed over the various States and Territories are:—
In addition to the figures tabulated above, expenditure of £388,000 is unallotted for the current year, while it is estimated that £33,925,000 will be. spent abroad this financial year, compared with £12,000,000 last year. This year’s total is to be less an amount of £2,310,000 to be recovered from the British Government for aircraft.
A preliminary investigation suggests that revenue for the current financial year will be about £50,000,000 less than the projected expenditure of about £177,000,000. In the circumstances, the flotation of another war loan will probably be announced shortly, to be followed by further loan operations before the end of the financial year. In addition to loans for war purposes, the Commonwealth will borrow for the restricted public works requirements of the States.
1939-40 £ 1940-41 £ N.S.W 14,353,000 53374.000 Victoria 19,215,000 52,730,000 Sth. Australia 1.839,000 13,462,000 Queensland .... 2,964,000 12,803,000 W. Australia 1.731,000 6.887.000 Tasmania 884,000 2,905.000 Nth. Territory 920.000 1,721,000 Australian Capital Territory .... 333,000 818,000 Port Moresby 84,000 390,000 £42,323,000 £145,090,000
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Wairarapa Times-Age, 24 October 1940, Page 6
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304£12,000,000 A MONTH Wairarapa Times-Age, 24 October 1940, Page 6
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