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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Aug 14, 1963
Page
2
Mr Holt outlined a new standard pension rate of £3 15s for single age and invalid pensioners, plus a widow's allowance of £8 10s with one child and increments of 15s for each additional child. Married couples' pensions stay at £10 10s, war pensions rise to £13 5s, and various educational and dependent allowances increase. About 106,000 pensioners would qualify for the new standard rate.
The annual grant to the Papua New Guinea administration rises from £4,200,000 to £25,250,000 this year. Mr Holt calls it the largest proportional increase among major budget items and says it funds more housing, schools, hospitals and staff. He notes a sixfold increase since 1949-50 as proof of rapid progress.
The Commonwealth will allocate about £90 million for housing this year matching last year. Banks may invest up to 35 percent of depositors balances in housing loans, up from 30 percent. Treasurer Holt calls housing a top social priority. Most funds go to new dwelling construction with significant shares for buying existing homes. Institutional housing finance is rising. loans approved in June quarter total 9,770, up from 7,847 in March and 6,419 in 1962 June quarter.
The report details revised allocations for health, housing loans, and government works. Interior department grants cut to 3,074,000 with cooperative societies capped at 600,000. housing loans reduced to 1,200,000 from 1,285,000. Canberra Hospital grants rise in health services while hostel funding drops to 20,000.
The Department of Works will spend £400,000 on rental dwelling repairs and maintenance £85,000 on Commonwealth office repairs £86,000 on repairs for its own and the Interior department. An additional £400,000 is for water supply and sewerage maintenance and £378,000 for roads and bridges matching last year's outlay.
Mr Holt introduced legislation to implement Budget sales tax provisions. The bill lowers tax on building materials fork lift trucks on wharves and tractors. Exemptions expand to many foodstuffs including biscuits cakes ice cream and frozen mixes. Conditional exemptions turn unconditional for metal materials welding and brazing materials etc. Floor rugs and wireless sets face minor changes.
Budget figures show royal tours totaling 261 865 pounds for 1962 63 with February and March Queen and Duke of Edinburgh visit costing 178 645 pounds, 6 045 more than estimated. Duke’s Commonwealth Games opening cost 26 926 pounds and Thailand royals visit 56 394 pounds.
Cabinet will meet to decide whether Australia should abandon or reaffirm its decimal currency. Prime Minister Sir Robert Menzies announced a special meeting with government backbenchers to gather views. Most backbenchers supported keeping the Royal unit, while some argued for naming the 60 Jar.
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