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[Press statement: capital assistance for independent schools in the ACT]



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COMMONWEALTH TREASURY

The or, the R. Hon. William emahon, said today that recent

press reports and editorial corm ent in New South ;dales on the

Commonwealth overni ent's decision to vary its capital assistance

to independo t -schools in the A.C.T. left the impression that an

i mediate grant of 4 3.6 million would be made to them to :^ enable

them to wild schools ! This assumption is incorrect.

The announcomeut made iy his coll`eague, the Minis ter for ucation

and Science, was to the effect that the Coiimon wealth would assume

respoasib .liu y f or the repayment over a period not ding twenty

years, of the outstanding amount of boi •ror1n made by independent

schools in the A.C.T. be t ween 1956 and 1965 for the construction

of sc. ool builr .ngs. The outstanding amount of debt involved i

about $3.6 million, it is estimated that the cost of this new

policy to the Commonwealth Budget in the -first year would be about

0180,000. : h i s financial ad jusurzent, which relates to past borrow ^

P ssure on ' resO1. ices e

It is i;:ravelen4 therefore

.1'• 1"i+ • AJ1cin for an additi

Ha y es loan works

r. ' ck .iahon made th e point that earlier in the year the Co;ltmonwealth

had agreed to an incrcase of 9 per cent in capital funds available t r. /

from

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o the states in i 9S W9 f approved borroring programmes and

^^ i v ,..,-, . oT' eu uh sicci c purpose assistance. At, the same time we out 'v .. Vi.

:_.c:. the rate of _neroase in expenditures for the Co ionwealvh's own

1 u+ 3c:. ro . ii per cent in 19 6 7- 6 8 to an estimated increase of

L j 6s o v c 6 per cent in 1968-69@

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20 December l 3

it s by i .C.T. independent

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schools will vet directly generate any.

to relate this, adjustment pith the request

Dn thi. financial year of 5 million to the

prograrmze for `school construc y ion purposes