16 Aug 1961
Page 1
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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Aug 16, 1961
Page
1
The 1961 62 budget outlines broad tax reductions and social security boosts. It includes increases in unemployment and sickness benefits, widows pensions, and war pension rates, plus a rise in age pension limits. Tax relief covers household goods, mining and afforestation credits, and dental expense deductions removal.
The Holt budget boosts pensions and unemployment benefits, funds more housing support, and trims sales tax with targeted concessions. It forecasts a cash surplus this year and outlines measures to revive production, reduce debts, and stimulate construction while stabilizing prices and external resources.
The Fremurer Mr Hart announced a £1 million ab lication in the Budget while government figures show housing and rents adjustments. Projections include reduced revenue from rents and increased costs for housing services, affecting ACT housing schemes and related municipal funding.
The discussion outlines a £16 million cash shortfall with government plans to cover the gap through various measures. Officials cite war related expenditures and repatriation costs plus rising payments from revenues to state governments as key factors, with revised deficits and projected funding needs for the current year.
Opposition Leader Mr Calwell argued last night that the 1961-62 budget would not revive business confidence nor stimulate the economy after what he described as the government’s mishandling of national affairs.
The Government plans to restore full scale migration soon as a temporary measure. The Budget signals a flexible approach to migration, with reduced grants for time skilled and semi skilled workers due to unemployment concerns.
Sydney reports a planned one half penny per gallon price drop aimed to ease costs after customs and excise adjustments. Treasurer Mr Hall ties the measure to his Budget speech as the Prices Committee hints at further effects on markets and tram fares.
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