A NEW DEFICIT TO BE MET.

Press, Volume LXVII, Issue 20334, 5 September 1931, Page 15

A NEW DEFICIT TO BE MET.

AUSTRALIA'S PROBLEM.

fi1,900,000 required. (UKITED rwwsl ASSOCIATION-BY SLICTRXO TKLItO*Apa—COPIBIOHT.) Th o p 1 ®: Bl ! September 4. thn „"1 "J Conferenco has sought Boirfl ■° I th 6 Commonw ealtli "bank Board jn solving the problem of how " ™ Ce ' the aggregate deficit of £18,500,000, which is nearly £3,500,000 above expectations, owing to tho collapse of the revenue "of the various Gonfn™ 13 since the last Premiers' waf St W i ? deficit thereabouts. t0 b ° £15 > o ?°>°°° <>' ♦ r,ff le u' Bank ? oard > while Anting out extra £S n S 08Sible " to finance tho £ I,6oofoo'ofte'lSnSTClh 4O **•* nn« r»„ . 7 Jeavir| g it to the van!i,L? T me,,t3 t0 find the balance, J y lncre ased revenue, or decreased expenditure. wJK, L „ ang ' , ol i behalf o£ Now South Wales agreed to make further cuts in expenditure amounting to £590,000.

BANK BOARD OFFERS £5,000,000. AID FOR COMMONWEALTH. (Received September sth, 1.16 a.m.) MELBOURNE, September 4. Tho Commonwealth Bank Board has informed the Premiers' Conference that it will provide £5,000,000 to carry the various Governments over "the revenue lag" in evidence in the early months of the financial year, and also will provide an additional £1,000,000 in order to carry on the loan works now in progress in the various States.