THE PUBLIC REVENUES
Parliament has now before it the Public Revenues Amendment Bill, and it is practically certain it will become law. It is designed to amend or vary the reading of tho Public Revenues Act of 1910 so as to meet the exigences of the moment. Some alteration has been demanded by the extraordinary circumstances that have arisen during the past few days in the regulations that govern the conduct of the Consolidated Account —in other words, the cash in hand. This account is refreshed from time to time by income tax, land ia-x, and other sources of revenue. Which, in, the ordinary circumstances, aro not collected unti} December or January. Between this and then, owing to the extraordinary demands now being made upon it. there seems every cli&nce of the fund being depleted. Jt is no doubt in the mind of the Minister of Finance that in Ids judgment the Act regulating the Consolidated Account for the tune being should be suspended, find that the Government should ask authority to raise two million pounds by Treasury bills during the current financial year, in anticipation of the revenue to be raised from land, income, and other taxes, which will in any case be collected later on. That, at any rate, seems to bo » reasonable reading of the Bill.
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Bibliographic details
Evening Post, Volume LXXXVIII, Issue 37, 12 August 1914, Page 8
Word Count
219THE PUBLIC REVENUES Evening Post, Volume LXXXVIII, Issue 37, 12 August 1914, Page 8
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