TREASURY BILLS.
FEDERAL FINANCE.
Bank Board Declines Short Term
Accommodation
BORROWING PLAN UNPOPULAR,
(United P.A.—Electric Telegraph—Copyright)
(Received 11 a.m.)
SIDNEY, this dav
The "Sydney Morning Herald" Melbourne representative says that in replying to a request from the Loan Council for short term accommodation covering the estimated deficits of £.6,750,000 during the next financial year, the Commonwealth Bank Board stated that it legarded Treasury bills as a form of temporary finance justified by the economic crisis. It invites the Governments' to finance their deficits themselves. As this means borrowing 011 the open market, the plan is not likely to be acceptable to the Loan Council. It is expected that the Governments will reduce their estimated deficits for 193435 to £5,000,000 or less in the hope that the Commonwealth Bank Board will agree to- cover t.iis reduced estimate'.
VICTORIA'S BUDGET. STEPS TO EFFECT BALANCE.
MELBOURNE, June 20. 11l opening the Victorian Parliament to-day the Governor, Lord Huntinglield, said every effort was being made to balance the Budget. The Government intended to re-enact the Financial Emergency Act, covering the reductions
in salaries, pensions and grants mad/ by tiie State.
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https://paperspast.natlib.govt.nz/newspapers/AS19340621.2.60
Bibliographic details
Auckland Star, Volume LXIV, Issue 145, 21 June 1934, Page 7
Word Count
186TREASURY BILLS. Auckland Star, Volume LXIV, Issue 145, 21 June 1934, Page 7
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