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Thursday, 3 April 1941


Senator McBRIDE (SOUTH AUSTRALIA) (Minister for Supply and Development) . - I move -

That the bill be now read a second time.

The purpose of this bill is to appropriate £19,000,000 from the Consolidated Revenue Fund for the payment of invalid and old-age pensions. This measure is similar to those submitted to Parliament periodically for the purpose of appropriating an amount from the Consolidated Revenue Fund for payment into a trust account to enable pensions to be paid at rates already approved by Parliament. The total amount appropriated to date for this purpose is £257,000,000 and the balance of this appropriation now remaining is sufficient only to meet pension payments to the 31st May, 1941. Although Parliament is being asked to approve the appropriation of £19,000,000, which is approximately one year's expenditure, this amount will not be withdrawn from Consolidated Revenue immediately. Revenue is only drawn upon for payment to the trust account as required to enable pension payments to be made as they become due. This bill has no relation to the rates or conditions under which invalid and old-age pensions are paid, but merely approves the provision of funds for that purpose.

Question resolved in the affirmative.

Bill read a second time, and passed through its remaining stages without amendment or debate.







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