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Friday, 25 November 1910

Senator RAE (Queensland) . - I wish to know whether the whole of the expenditure in this Bill which relates to payments to South Australia on account of the Commonwealth taking over the Northern Territory has to be met in the immediate future? For instance, under Interest and Sinking Fund I find the following items : - Interest on loans, £[50,000 ; interest on account current with South Australia, £[17,500; contribution to Sinking Fund under South Australian Act No. 648 of 1896, £[2,750 ; and redemption of Treasurybills, £[273,700. I wish to know whether these obligations have to be met in the immediate future. In other words, is South Australia to receive this cash payment at once? Do the Government consider that the revenue which they will derive from the land tax and from other new sources will enable them to meet this expenditure, or do they propose to borrow money tor the purpose of developing the Northern Territory and of repaying the amount which is due to South Australia ?

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