Transcript 2190
FOR PRESS P. M. No 33/ 1970
PREMIERS' CONFERENCE FEBRUARY 1970
COMMONWEALTH'S OFFER NEW FINANCIAL AGREEMENT
The Commonwealth today offered the States new bases for
improving State revenues in a new financial agreement.
The Commonwealth agreed in principle that there should be an
increase in the basic amount of money on which increases in State revenue
grants are calculated and offered to discuss this with the States. The
Commonwealth however, rejected the proposal that the rate of growth should
be tied to the rate of growth of income tax collections.