AUSTRALIAN BUDGET
Planned Deficit Of £AllOm < N - Z - Press Association—Copyright) (Rec. 1030 p.m.) CANBERRA, August 5. Concessions totalling £A12,434,000 for a fu '* ® nd only £A5 ’562,000 for the remainder 9L 1 *' . were announced by the Treasurer (Sir Arthur Fadden) in his Budget speech today. . clitn G n°nn e nn? lent J is |’ ud 8 et ing for a cash deficit of £A110,000,000 and plans to bridge the gap by borrowing from the Central Bank. Assistance to age pensioners is the most important of the concessions, which include increases in war pensions and encouragement to Australian investors m oil prospecting. Sir Arthur Fadden blamed the drop in farm income, with the fall in export prices for primary products, for the expected cash deficit. The Treasurer has budgeted for a total expenditure of £A1,302,145,000—£A9,218,463 less than in 1957-58.
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Press, Volume XCVII, Issue 28657, 6 August 1958, Page 13
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136AUSTRALIAN BUDGET Press, Volume XCVII, Issue 28657, 6 August 1958, Page 13
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