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Federal
Finances
Stronger
CANBERRA. — Commonwealth
accounts for November issued to
day disclosed that the Federal
Government budgetary position
was much stronger than was ex
pected.
For the five months ended No
vember 30, Commonwealth revenue
was sufficient to meet all but
£13,513,000 of expenditure.
The Budget estimate was that
for the fun year there would
be a revenue deficiency of
£43,228,000, bat the progressive
deficiency indicates this will be
much lower.
Total revenue for the five
months was £171,798,000.
The accounts show that in No
vember Australia made her first
payment to the International
Monetary Fund set up under the
Bretton Woods Agreement. This
payment was £10,154,000.
In the past five months the
Commonwealth has advanced
£4370,000 to States for housing.
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