FINANCING THE WAR
,/’ ” , AUSTRALIA’S EXPENDITURE TWENTY MILLIONS A MONTH BRISBANE, June 16. • The Federal Treasurer, Mr A. W. Fadden. said by the end of this month Australia’s war expenditure would exceed £20,000.000 a month, and the rate of expenditure must continue to increase. It was safe to say that in the next financial year Australia could expect to have an expenditure of £250,000,000. The three chief instruments for providing the necessary finance were credit expansion, public borrowing, and taxation. “It seems that when we enter the new financial year .we will have hac[ for the time being as much credit expansion as we can safely indulge in,” he said. “The process of elimination seems to leave only one expedient—further taxation.”
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Otago Daily Times, Issue 24635, 17 June 1941, Page 5
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120FINANCING THE WAR Otago Daily Times, Issue 24635, 17 June 1941, Page 5
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