THE AUSTRALIAN BUDGET
Record Peace-Time Spending Likely MINOR TAX CUTS , PROPHESIED (N.Z. Press Association—Copyright) (Rec. 9.30 p.m.) CANBERRA, August 30. It is expected that a record peacetime expenditure of about £700,000,000 will be provided for in the Federal Budget to be presented to Parliament late in September. It may even approach the record war-time expenditure of £719,000,000 in the Budget of 1943-44, and it will be vastly increased from last year’s £606,000,000. There may be a deficit of £50,000,000 to be financed by a loan. Major taxation cuts are unlikely, but Ministers hope that minor concessions may be made, saving taxpayers about £15.000,000. , , , x Abotlt £35,000,000 will be added to the Social Services and Pensions Bill, bringing the total expenditure on this item to about £150,000,000.
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Press, Volume LXXXVI, Issue 26205, 31 August 1950, Page 7
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126THE AUSTRALIAN BUDGET Press, Volume LXXXVI, Issue 26205, 31 August 1950, Page 7
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