Grant of Nearly Four Millions
COMMONWEALTH BANK’S AID TO GOVERNMENTS.
PREMIERS’ PLAN MUST BE STRICTLY OBSERVED
United Press Association.—By Electric Telegraph.—Copyright. MELBOURNE, I ug. 15.
The August requirements for the Australian governments, totalling £3,960,000, have been granted by the Commonwealth Bank Board. Mr Seullin announced that the Loan Council had decided that the budgets of all the Governments must be produced before the end of the month, and they must show that the Premiers’ Plan is being strictly' adhered to. Sir Robert Gibson, Chairman of the Commonwealth Bank, in a letter to the Loan Council, pointed out that it was impossible, from the information supplied, to judge whether any of the Governments had completely carried out the Premiers’ Plan. It must be distinctly understood by the Conference that the money was granted only on the understanding that, if and when the complete b~dgefc figures are supplied at the end of the month, it is found that any Government has overstated its requirements, the amount will be deducted from future advances.
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Bibliographic details
Manawatu Times, Volume LIV, Issue 6629, 17 August 1931, Page 7
Word Count
170Grant of Nearly Four Millions Manawatu Times, Volume LIV, Issue 6629, 17 August 1931, Page 7
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