AUSTRALIAN FEDERAL FINANCES
WAR EXPENSES STILL MOUNTING Melbourne, July i. The Federal revenue for the past year was £36,801,311, as compared with .£30,762,316 on the previous year. The expenditure was .€35,127,727. Although the year closed with a surplus of the Commonwealth has not paid its way in 1916-17, as three millions were brought forward from the previous year. Actually the expenditure was . .£1,323,416 more than the revenue.
The total war services cost JE58,732,88t, as against .£11,201,946 in the previous year. Of this .£8,014,661 was paid from' revenue, .£39,660,769 was raised in the Commonwealth, and eleven millions were borrowed in Britain. In addition .£20,233,115 was carried forward from the war loans fund of 1915-16, making available in, 1917-18.—Press Assn. --.'.,' ,
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Bibliographic details
Dominion, Volume 10, Issue 3128, 5 July 1917, Page 5
Word Count
118AUSTRALIAN FEDERAL FINANCES Dominion, Volume 10, Issue 3128, 5 July 1917, Page 5
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