N.S.W. FINANCES

Grey River Argus, 10 August 1931, Page 5

N.S.W. FINANCES

PUBLIC SERVICE CUT j Loan Soon Follows (Aus, & N.Z. Cable Assn.) SYDNEY, August 8The Revised Public Service Salaries Bill pass-’I through both Houses of ’ Parliamihit. ft j s anticipated that the annual' saving will be £1.300.000. The wages Tax of a shilling in the pound will be additional to the reductions. , It is now ('xpocted that money will bo available next week to • pay civil servants’ salaries. The passage of tho Bill ch ars the-way for the Loan Council io give permission for the issue ef Troasurv Bills to cover the amount I Trended, and it is anticipated that this [permission will be given on Monday. i The ‘Telegraph” says it is hoped to . re-open the Government Savings Bank on Auaust 17. The Expert Committee’s scheme has been handed to the .Parliamentary draughtsmen. The work will be expedited in that departI ment, so that the necessary legislation may be ready for Parliament next week. Six lending business men may ! Following severe criticism by the State I’ur) iamentarv Labour caucus, of the Government’s action in con- ■ trading for the supply of dole bread, ‘live Government tonight gave inist rudinas. for the cancellation of the contract hr-ld by Shadlors Ltd. Labotn members complain that they were kept in the dark about the contract v. I'.ii ji contained-no penal clauses covering non-firlfilmont. while the break'b-wn of the bread supply arrangements had given Labour's opponents much material fur bitter condemnation '-f rhe Party’s methods. It ■. understood that the Govern- 1 , ‘meat has released four hundred tons <>f flovr seized. MELBOURNE. August 8." A Loan Council stateureiit points out that the Commonwealth Government passed the necessary legislation to give effect, to the economies plan _ adopted by the. Premiers’ C nference. j also for converting loans. Queensland. South Australia and Tasmania have also passed the necessary logislatio-i. and it is expected that tlio West Australian Bills will be passed to-day. Addressirjg the shareholders of the. Commo e.’:.-l ’ Bank of Australia. Mr John Webb, chairman, announced a reduction in interest of one per cent, from October 1. and referred to the Victorian Government’s previous threat io compel the banks to do this. Mr Webb said that legislative interforcncc might so hamper banks that it woud be impossible fu tlier to help tlio ’ Governments. while arbitrary fixation of the rate of interest would possibly m:)kc mopey dearer, r force, further capital from tUc country. N.S.W. SALARIES TO-DAY. . . SYDNEY. August 9. I- is now expected Hiai the. New f-outh Wales pcbljc rcivier salaries wifi bo paid on. Monday. The Dole Bread BIG BAKERS GET THEIR PRICE. Received August 9. at. 5.5 P.m-).. • SYDNEY, August 9. The Inroad war -is now apparently over. The Now South kVa’c.- Government luUF'Rg agreed t< pay th.• waster bakers f U t the rare of- A s 3d per dozen loave? for tbje-bread that is re-[ drcmabV on dole coupons. M-L.C. “SACKED.” (Received August 8 at 5.5 p.m.) SYDNEY, August- 8. After fourteen year- as Secretary of tb.i' Fight Hour day Demonstration Commi top. Hon. "Mr Yager, a Legislative Councillor, has been dismissed, as a ’ unishmen.t for his vote ;:ga ris- rb< ! Government on the fiv-e-shillings in th* pound, wage tax Bill. The official charge road: “Disloyalty in breaking the Lang Plan pledge.” Half Million Loan FOR NEW SOUTH WALES, (Ans & N.Z. Cable Assn,) (Received August 9 at 5.5 p.m.) MELBOURNE, August 9. The Federal Loan Council has approved of the issue- fo Trea.suiv B :;. ; . a iii.ii’r ing to half a mi lb on ■ sterling foi the covering of the cn-h require incuts of New South Wales for Jiilv. The "prime Minis'er, Mt Scullin. in making this announcement, said that the New South Wales Government had given all the undertakings required, (■wm to b(5 effecting of a twenty per cent, reduction i n tlie adjustable Government expenditure. FURTHER FINANCE FOR N-5..W,. MELBOURNE. August .9 >' ' ' ' Un. hup announced that, the qiiestion of the cab requiirement^-rfor Now South. WajleS. State Governm.--nts for August and months would be considered by the Lean Council next week, LONDON PAFER-’S CRITICISM. ONLY ONE LANG. (Received Augusit 9 n.f 5.2 fl p.nid LONDON. Augusi 9. The ”Sunday despatch,” in ? l( u ('dki.a.rial. .suy;s : —-“New South Wales mu-t be classing, her Pnomier among ; her b:\rirtfes. No country in these ■ hard times can afford tho fantastic 'socialism which has mad. him the laughing st-oek of thj world, and has .mvolvckl AuistaalHat •in phnost i kind of financial emba.rrassm.ent. It |is extraordinary that bn has< remained Izn office so long, but New South Wales is unlikely to have another l-jang.