FINANCE QUESTION
AUSTRALIAN DEFENCE SCHEME.
HEAVY BORROWING NECESSARY.
PROTECTION OF THE COAST.
(United Press Association—Copyright! (Received This Day, 11.10 a.in.)
SYDNEY
This Day
The Canberra correspondent of the “Sydney Morning Herald” says that the problem of finding money to finance the expanded defence programme is causing the Federal Cabinet increasing concern. Most of the Ministers are now reconciled to the fact that heavy borrowing will have to be undertaken to finance next year’s programme, and it i.s even likely that borrowing on the London market will be resumed.
Salient features of the new programme, it is understood, will be the provision of a line of batteries of highpowered, long-range coastal guns along the east coast, and the creation of a military force and air force strong enough to deal with any landing force. The Minister of Defence (Mr Street), detailing in the House of Representatives the proposal for expansion of defence, stated that plans had been made to prepare merchant vessels on the Australian register for the mounting of defensive armament.
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Bibliographic details
Ashburton Guardian, Volume 59, Issue 43, 30 November 1938, Page 5
Word Count
171FINANCE QUESTION Ashburton Guardian, Volume 59, Issue 43, 30 November 1938, Page 5
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