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Friday, 7 October 1927


Senator NEEDHAM (Western Australia) . -In view of the Ministers statement that his intention in submitting the motion is to enable- him to- move- the second1 reading of the bill, and then; to grant an adjournment of the debate until Wednesday next, I offer no objection. In the meantime honorable- senators- will have an opportunity to study the' bill.

Question resolved in the affirmative.

Bill (on motion by Senator Sir WilliamGlasgow) read a first time.

Senator Sir WILLIAMGLASGOW (Queensland - Minister for Defence). [11.7].- I more-

That the bill be now read a second time

In order to meet expenditure in respect of works and other services chargeable to loan funds during the first' three months of this- financial year,. Loan Bill (No.. 1) authorizing expenditure amounting to £2,000,000,. was passed by Parliament in March last. Reference to the Budget will show that the proposed programme for loan works and services for the current year totals £9,000,000.. Last year the programme submitted- with the Budget was for an expenditure of £10,000,000, but the actual expenditure was only £7,748,417. The decrease in expenditure for that year compared- with the- estimate was chiefly due to postal works and. Commonwealth railways. The construction of new Commonwealth railways in South Australia was not advanced' as rapidly as was expected, and in the case of the postal works, the decrease was due partly to the delay in delivery of ma- terial and partly to the requirements being less than were anticipated. After the proposals of the various departments had been carefully scrutinized and reduced- where practicable, the programme for the present year was fixed at £9,000,000. The following table gives a comparison of the proposed expenditure for this year and the actual expenditure during last year

 

The bill now submitted- provides for the appropriation of £7,217,696. This amount is necessary to meet the full works programme for the year and also to provide for sundry redemptions amounting to £14,388. The financial position may be summarized thus: -

 

This includes £9,000,000 for works and services and £14,388 for redemptions. No provision is made in this bill for loans to be raised for the States for development and migration under the migration agreements or for loans to be raised for. the Federal Capital Commission. Authority has already been given by Parliament under other acts for these services. Clause 2 of the bill provides for authority to borrow £7,600,000. The difference between, that amount and the amount to be appropriated by . this bill, £7,217,696, is required to cover expenses of borrowing.

Debate (on motion by Senator Needham) adjourned.







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