Rural reconstruction scheme funds boost to farmers
Details outline payments totaling 114 million to states under the rural reconstruction plan, plus 3.1 million paid last year. Advances include 10 million to Commonwealth Development Bank to extend loans for farm expansion. Government supports wool prices via the Australian Wool Commission, with 12 million provided for working capital and up to 44 million for financing purchases. Deficiency payments planned for 1971-72 and 6 million outlay projected, plus extended phosphate fertilizer bounty to 1974 and butter cheese bounties. Rural industry stabilisation aims to ease hardship for wool-dependent farmers and fund a five-year plan for dairy and pears, with total rural industry payments around 275 million.
MENTIONED IN THIS ARTICLE
Commonwealth Development Bank
Commonwealth
Labour and National Service
Als
Australan
Trading Anks
Commission
Lion
Win
Assistance for Aborigines Expenditure Increases Outlined
Under Other Expenditures, Mr Snedden announced 14.35 million funding from the Aboriginal Advancement Trust Account for housing health and education. Grants to States up 31 percent to 9.2 million. studies and secondary education grants up to 3.4 million. NT Administration Aboriginal advancement to exceed 16 million. Pensions rise by national salary method cost 10.4 million with net budget cut 6.2 million due to external funding. Performing arts grants up to 4.5 million.
MENTIONED IN THIS ARTICLE
Snedden Sand
Aboriginal Advancement Trust
Northern Territory Administration
Commonwealth
Defence Forces
Post Office
Advances for capital purposes increase
Mr Snedden said that advances for capital purposes would rise to 495 million dollars, up from 83 million last year, with the largest jump of 56 million to Qantas for new aircraft payments. The Post Office receives 255 million, 8 million more than last year, while wage and salary increases cost about 77 million. To avoid losses, Post Office charges are set to rise by around 50 million in 1971-72, details to be announced by the Postmaster-General. Additional capital payments of 25 million to the Australian Industry Development Corporation are planned, with reductions in other advances.
MENTIONED IN THIS ARTICLE
Snedden
Qantas
Post Office
OFA Provan
Australian Industry Development Corporation
Snowy Mountains
Hydro-Electric
Authenty
Australian National Airlines
Com- Tisai
Budget strategy aims to curb expansive public spending
Mr Snedden frames public sector expenditure as a key target to fight inflation. The government aims to raise revenue and tighten demand through the Budget and monetary measures, pursuing a larger domestic surplus of 430 million to offset rising expenditures and resist liquidity surges in 1971 72.
MENTIONED IN THIS ARTICLE
Snedden
Reserve Bank
Commonwealth
Australia
Government to seek extra revenue to fund 1971-72 surplus
The text outlines projected receipts of 8,654 million, up 7.8 percent, and 8,913 million when payroll tax transfers to States are accounted for. To reach a domestic surplus of 630 million, the government plans 157 million in additional revenue via mostly company and personal income taxes, with smaller increases in customs and tobacco excise duties.
Also Mentioned on This Page
Fluffies
Northern Territory
Australian Capital Territory
Port Augusta
Whyalla
A.C T
A.C.T
Trustees Executors and Agency Co. Ltd
T.E.A
Senate
Canberra
Monaro
Walerene
Lumla
Jamison Meat Service
Dickson Meat Service
Lyons Meat Market
Manuka
Civic Embassy
Garran
Hughes
Butchery
Lamb
Rorovasuantty
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