FEDERAL BUDGET
EXTENSIVE USE OF BANK CREDIT COMPULSORY SAVINGS SCHEME. SPECULATION ABOUT FINANCIAL PROVISIONS. (By Telegraph—Press Association —Copyright) (Received This Day, 11.40 a.m.) SYDNEY, This Day. Bank credit will be used to a degree never before envisaged by a non-Lab-our Government in the Budget, consideration of which has been completed, says the “Herald’s” Canberra correspondent. The Government will meet the House of Representatives with the Budget during the sittings which begin on September 17. The expenditure may be well above the estimate of £30,000,000 authoritatively made before the political crisis forced a revision of the Budget plans. The expansion of the bank credit and post-war credits scheme, in which compulsory savings will be exacted from a wide range of incomes, will be the chief of the new financial devices proposed by the Government. The compulsory savings scheme will largely take the place of taxation increases, which would otherwise have to be made. On the expenditure side, the pay for the fighting forces will “be increased. There will also be a generous increase in the allocations for old age and invalid pensions.
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Wairarapa Times-Age, 6 September 1941, Page 6
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181FEDERAL BUDGET Wairarapa Times-Age, 6 September 1941, Page 6
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