AUSTRALIA'S WAR BILL
OVER SEVENTY MILLIONS
SPENT
IMPORTANT LOA^f PROPOSALS.
(Received May 10, 10 a.m.) MELBOURNE, This Day. In the House of Representatives, ,the. Federal Treasurer stated that the naval and military estimates amounted to £44,562,039, as against £17,537,255 last year.
■From June, 1914, to June, 1916, over seventy millions had been spent on defence.
(Received May 10, 11 a.m.)
MELBOURNE, Tnis Day. The Defence expenditure is estimated at £49,861,975. The Treasurer stated that the Government was of opinion that the time had; arrived when Australia should at least pay her own share of the war expenditure, and, indeed, should lend money to the Imperial Government. Parliament would be aeked to authorise loans of fifty millions for the Commonwealth and nine millions for the States. He foreshadowed a 50 per cent, tax on war-time profits accruing from 30th June, 1915. , .
A progress return reveals that the aggregate net income of-'persons in the Commonwealth to 3rd April was £183,000,000, and that it is expected 'to reach £200,000,000. The Statistician estimates the total of private wealth at a thousand millions.
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Bibliographic details
Evening Post, Volume XCI, Issue 110, 10 May 1916, Page 7
Word Count
178AUSTRALIA'S WAR BILL Evening Post, Volume XCI, Issue 110, 10 May 1916, Page 7
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