FEDERAL FINANCES.
RETURNS OF REVENUE. i ■ AN ALARMING DECREASE. big' DEFICIT EXPECTED. United Press Assn.—Elec. Tel. Copyright, (Received Sept. 2, 10.20 a.m.) CANBERRA, Sept. 2. The Federal revenue for July and August shows an alarming decrease, which, if continued for the remainder of the financial | year, would mean a budget deficit of £9,000,000. Tlio Fedoral Cabinet will hold i a meeting to consider the situation, and It is expected that a i special session of the Federal Parliament will be convened early In October to deal with the finances. In Federal circles a wages reduction Is regarded as InevitableIt is stated that the pledge given by the Government at the Melbourne Conference to balance the Budget may lead to the reslgnatlon of Mr Beasley, assistant Minister of Labour and Industry, from the Ministry, as the Australian Labour and Industrial section of the Labour Party has called upon Federal Ministers to repudiate the conference understanding.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WT19300902.2.74
Bibliographic details
Waikato Times, Volume 108, Issue 18113, 2 September 1930, Page 7
Word Count
154FEDERAL FINANCES. Waikato Times, Volume 108, Issue 18113, 2 September 1930, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Waikato Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in