LANG GOVERNMENT FACING FINANCE CRISIS
Default Considered Inevitable.
JUDGMENT DESERVED
Sydney, March 29
A message from Melbourne states that the High Court to-day reserved judgment in the case in which the New South Wales Government is seeking a declaration that the Financial Agreement Enforcement Act is ultra vires. Tasmania and Victoria have also intervened. The Sydney Sun states that if the High Court upholds the Act the Lang Government will face the gravest financial crisis in its stormy career. April interest amounting to £1,000,00 0. plus exchange, falls due this week and default in payment is considered inevitable.
The Canberra, correspondent of the Sun says that should the Federal Government decide upon immediate action it will be possible to issue an attachment proclamation under the Enforcement Act within an hour or so of the High Court’s decision. There are sufficient Cabinet Ministers in Melbourne to constitute an executive council over which Sir William Irvine, as deputy for the Governor-Gen-eral Sir Isaac Isaacs, will preside.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/BOPT19320330.2.23
Bibliographic details
Bay of Plenty Times, Volume LX, Issue 10829, 30 March 1932, Page 3
Word Count
164LANG GOVERNMENT FACING FINANCE CRISIS Bay of Plenty Times, Volume LX, Issue 10829, 30 March 1932, Page 3
Using This Item
NZME is the copyright owner for the Bay of Plenty Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.