Australia Launches £5,000,000 Interest-Free Loan
CANBERRA, May 28. Following a meeting of the Federal Loan Council today, the Federal Treasurer (Mr P. C. Spender) announced the issuing of an interest-free loan of £5,000,000. Subscriptions would be invited from people who desired to assist in the war effort to the extent of foregoing the interest normally received from war bonds. Mr Spender also announced a £20,000,000 war loan, the terms of which are short-termed subscriptions, with currency of five years at-23. per cent. A longer term subscription for 10 to 16 years will carry interest at 3.1 per cent. The loan will be issued at par and will be subject to full Federal tax.
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Northern Advocate, 29 May 1940, Page 7
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113Australia Launches £5,000,000 Interest-Free Loan Northern Advocate, 29 May 1940, Page 7
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