MORE FOR DEFENCE
£36m Vote (Parliamentary Reporter) WELLINGTON. June 25. New Zealand’s defence expenditure this year was estimated at £36m, £7m more than last year, by the Minister of Finance when he presented his Budget.
“This increase is necessary if we are to make an effective contribution to the collective defence arrangements with other countries on which the security of New Zealand depends,” Mr Lake said. Substantial overseas funds were required for the equipment programme of the services. The bulk of the cost of three Hercules aircraft—£4m—fell in the current year, and it was estimated thatoverseas expenditure on defence would exceed £l2m. To assist in meeting the peak in expenditure, it was proposed to transfer £sm from the reserve fund towards the cost, the amount to be recouped to the reserve fund from revenue as soon as practicable.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19640626.2.4
Bibliographic details
Press, Volume CIII, Issue 30477, 26 June 1964, Page 1
Word Count
138MORE FOR DEFENCE Press, Volume CIII, Issue 30477, 26 June 1964, Page 1
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.