BIG DEFICIT LIKELY
AUSTRALIAN BUDGET HUGE WAR EXPENDITURE (10 a.m.) CANBERRA, April 11. The enormous increases in the war expenditure during recent months have so upset the Commonwealth Budget plan that a large deficit this year is believed to be unavoidable. New sources of, revenue are being explored by Treasury officials. Further indirect taxation will probably be imposed and credit expansion employed before the end of June to keep the deficit as low as possible. Taking only direct expenditure on war services, the cost during March was nearly £34,000,000, or more than £1,000,000 a day. Of a total of £13,494,000 provided from revenue and • £20,286,000 from loan funds, the war expenditure for nine months ended March 31, was £207,473,000, which has almost overtaken the original Budget estimate of £221,000,000 for the full year..
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https://paperspast.natlib.govt.nz/newspapers/GISH19420411.2.27
Bibliographic details
Gisborne Herald, Volume LXIX, Issue 20737, 11 April 1942, Page 3
Word Count
133BIG DEFICIT LIKELY Gisborne Herald, Volume LXIX, Issue 20737, 11 April 1942, Page 3
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