No I46o
FOR PRESS LOAN COUNCIL
STATEMENT BY THE TREASURER, THE RT. HON. HAROLD HOLT, M. P.
The Commonwealth Treasurer ( Mt. Holt) announced today that
the Australian Loan Council has approved an increase of œ 7,500,000
in the borrowing programme for housing purposes in 1961-62 compared
with the programme approved at the June, 1961 Meeting. This
means that the total borrowing programme for States' works and
housing for 1961-62 is now œ 247,500,000.
Mr. Holt said that the Loan Council also agreed to an increase
of œ 7,5O0,00 in the programme of semi-government and local
authorities with programmes of œ 100,000 or more.
The allocation of the new progr=_ mos is s-ot
Governmeirntal1
State Commonwealth-
Works State Housing Total
Agreement
œ' 000 œ' OO œ 00
New South Wales
Victoria Queensland
South Australia
Western Australia
Tasmania 52,298 50,075 25,500 25,148 19,581 14,498
197,100 17, O03
13,527 4,200 9,03b 3,706 2,928
50,400 79,301 63,602 29,700 34,184 23,287 17,426
247,500 out -e low:-
Semi-Government and
'-Loc aH Authorit ie s
with Programmes of
œ 100,000 and over*
30,365 39,713 21,093 5,802 3,520 3,549
104,042 ( 28,1) 9)
( 36,972)
( 19,547)
( 5,430)
( 3,193)
( 3,291)
( 96,542)
Previous programme in brackets.
The Loan Council decided that, subject to the approval of
the State Government concerned, semi-government and local authorities
with programmes less than œ 100,00 would each be permitted to borrow
up to a further œ kl0O, 000 during the remainder of the financial year
if they were able to do so. Prior to this Loan Council decision,
e* the 1961-62 programmes of these smaller authorities were as follows:-
œ' 000
New South Wales 6,782
Victoria 5,324
Queensland ', 360
South Australia 427
Western Australia 1,863
Tasmania 702
Total 19,458
The Treasurer further said that, as proposed by the
Prime Minister yesterday, the distribution between the States of the
special non-repayable grant of œ 10 million for expenditure on
employment-giving activities in this financial year would be as
shown in the following table, which also indicates the amounts added
to the works and housing, and the semi-governmental and local
tLrthCW. LILy p-ug.-UX iTn. e Addition to
Semi-Government
Special Non-Addition and loal
Re payable to Housing Authority
Grant Programme Programmes
o œ 110o0f 0 O
and over
œ' 000 œ' 000 œ' 000
New South Wales 2,240 2,403 2,256
Victoria 1,800 1,927 2,741
Queensland 3,340 900 1,546
South Australia 970 1,036 372
Western Australia 660 70 327
Tasmania 990 528 258
Total 10,000 7,500 7,500
Canberra, A. C. T.
16th February, 1962