67-107(
J'QO, fJ iR l -) SS_ ul AUSTRALIAN LOAN COUNCIL
Statement by the Chairman ( Rt. Hon. Harold Holt IM. P.)
The Australian Loan Council decided at its meeting
today that the borrowing programme for States' works and
housing for 1962-63 should be œ 250,000,000.
A borrowing programme of œ 106,750,000 was approved for
Commonwealth and State semi-government and local authorities which
borrow more than œ 100,000 during the year.
In addition, the Loan Council decided that no
overall limit should be placed on borrowings by authorities
for which the State Governments approve programmes of not more
than œ 100,000 in 1962-63.
In making these decisions, the Loan Council took into
consideration the Commonwealth offer of a special non-repayable
interest-free grant of œ 12-million to be expended by the States
at their discretion for employment-giving activities.
The allocation of these amounts is as follows:
State
Torks
New South Wales
Victoria Queensland South Australia
Western Australia
Tasmania œ' 000
65,102 51,645 26,200
25,529 20,522
15,102
204,100 Governmental
Commonwealth-Stat" ousn Total
Agreement œ' 000
15,000 12,600 3,800
9,000 3,000 2,500
45,900 000
80,102 64,245 30,000 34,529 23,522
17,602
250,000 Special Non-repayable
Grant
œ' 000
3,044 2,442 3,640 1,312 894
1,168
12,500
Serni-Covernme-rt and Local Author-ities
Borroviing ; Z100,000 or More,
C omfo nw ealt h
New South Wales
Victoria -Quee ns land
South Australia
Western Australia
Tasmania T otI-al Z1000 1,595
31,000 39,800 21,7287 5, 820
3,666 3,582
106,750
28th June, 1962