STATE AID
Commonwealth Bank TO FINANCE deficits. (Aus. & N.Z Cable Assn.) ALELBOURNE, June 11. The Commonwealth Bank Board has agreed to finance the State deficits for [1933-34 to the extent of £8.500,000. [Sir AValter Alassy Greene, Chairman of the Loan Council, announced that the Bank Board has decided to defer a request for financial accommodation, pending the outcome of future conversions, whereby it is hoped that considerable relief will be afforded. It is now regarded as likely that the State deficits, originally anticipated at £9,000,000, will n<»t exceed £2,000,000. The bank has undertaken to discount Treasury bills to finance these deficits, and a substantial sum will likely he available for the continuance of public works.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GRA19330612.2.34
Bibliographic details
Grey River Argus, 12 June 1933, Page 5
Word Count
115STATE AID Grey River Argus, 12 June 1933, Page 5
Using This Item
Copyright undetermined – untraced rights owner. For advice on reproduction of material from this newspaper, please refer to the Copyright guide.