PEOPLE AND CASH.
BRITAIN’S OFFER.
FOR DEVELOPMENT OF AUSTRALIA. BY CABLE—PRESS ASSOCIATION—COPYRIGHT Received Jan. 26, 10.45 a.m. ADELAIDE, Jan. 26. The Minister for Migration, Senator Wilson, stated that according to an agreement between the - Commonwealth and Britain, £20,000,000 will be lent to the Australian States, so that developmental work may go hand in hand with the influx of British migrants. The British Government has agreed to pay 50 Tier cent, of the interest on the loan for five years, and 33-} per cent, for a further five years. The Federal Government will also pay a portion of the interest, making the money available to the States at about one per cent. The States would undertake to absorb ten thousand migrants for ©very £750,000 of loan money. The State Premiers meet shortly to discuss the matter.
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Bibliographic details
Hawera Star, Volume XLVIII, 26 January 1925, Page 5
Word Count
135PEOPLE AND CASH. Hawera Star, Volume XLVIII, 26 January 1925, Page 5
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