Budget Concessions Amid Tax Shifts Highlighted by Holt
Mr Holt outlines a budget aimed at future needs with a £1,935 million non borrowings forecast and an expenditure rise to £2,280.7 million. A deficit of £584 million is projected, contrasting with last year’s £118.35 million deficit and a £16.1 million surplus. He pegs current year receipts at about £300 million, cautioning that actuals may vary.
MENTIONED IN THIS ARTICLE
Mr. Holt
Holt
Joan Raisings
Commonwealth
Government to seek borrowing authority for defence spending
A deficit of £58.4 million is projected if the £300 million estimate holds near the mark. To bridge the gap, temporary borrowings would be used and £62.5 million may be authorised to cover defence expenditure. The Budget proposes social service hikes and repatriation benefits, with higher pensions for singles and widows, plus housing and tax reliefs to aid families and business.
MENTIONED IN THIS ARTICLE
Consolidated Revenue Fund
Budget In Brief Details Tax Concessions And Pension Increases
The Budget outlines targeted concessions for family men service pensioners single and widowed pensioners and farmers with no broad tax cuts. It raises minimum taxable income to 209 pounds expands education and medical deductions increases pensioner weekly allowances and adds a 20 percent investment grant for farmers. It also allocates 90 million for housing and 20.46 million for development projects with a total expenditure of 2,280.7 million pounds, a 197.3 million rise.
MENTIONED IN THIS ARTICLE
Commonwealth
ACT Budget Shows Big Capital Push for Canberra
The budget records a large increase in capital works for the A C T with total provisions rising to 18 356 000 and the National Capital Development Commission allocated 13 920 000 of that amount. Mint building gets 1 330 000 and Canberra Community Hospital 358 000. Departmental spending up 539 000 for 1963 64 while government income from rates and housing loan repayments falls. Page 10 continues.
MENTIONED IN THIS ARTICLE
A.C.T
National Capital Development Commission
Mint
Canberra
The
Treasury
Indonesians Demand U K Property Seizure Rally Claims British Plan
A rally denounces Malaysia formation as a British scheme to secure economic and political interests in Southeast Asia. The crowd alleges Britain designed a federation of Malaya Singapore Sarawak and North Borneo. U Thant forms a nine man UN team to assess if North Borneo and Sarawak wish to join Malaysia, aiming to report by mid September. Kuala Lumpur says locals will be asked only if they want Malaysia, while the UN mission proceeds under Indonesian pressure.
MENTIONED IN THIS ARTICLE
Malaysia
South-East Asia
Britain
Federation of Malaya
Singapore
Sarawak
North Borneo
Manila
New York
United Nations
U Thant
Laurence Michelmore
United Nations Office of Personnel
Michelmore
George Janacek
George Howard
Argentina
Neville Kanakakaratne
Ceylon
Kenneth Dadzic
Ghana
Irshad Baqai
Pakistan
Jasushi Akashi
Japan
Abdel Dajani
United Arab Republic
Jose Machado
Brazil
Kuala Lumpur
Tunku Abdul Rahman
Borneo
U.N
British Borneo
Hideout Found for Britain Train Robbers at Leatherslade Farm
Police locate the hideout of the £2,000,000 train robbers at Leatherslade Farm Oakley near Brill A AP. Tuesday report cites Deputy Commander George Hatherill stating the house is isolated well stocked and the robbers left about three days earlier with a lorry and two Land Rovers found nearby.
MENTIONED IN THIS ARTICLE
London
Britain
Scotland Yard
George Hatherill
Leatherslade Farm
Oakley
Brill
Hatherill
Also Mentioned on This Page
T.P
Mr. Macmillan
Valkenkosk
Finland
Macmillan
Sweden
Australian Capital Territory
Hall
U.K
Wherrs
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