The Commonwealth Budget, is notable for its vigorous defence policy. The defence expenditure for 1937-38 will amount to £11,500,000 exceeding expenditure for 1936-37 by about £3,500,000. The money will be divided between arms of the services thus Navy: 3410000 Air Porce: 22000 Munitions Supply: £1,039,000
There is also a vote of £940,000 towards Civil Aviation. Non-contributing old-age and invalid pensions have been raised to 20/- per week at a total annual cost of £15,900,000.
A vote is made for the preliminary costs of social insurance. The total expenditure for 1937-38 is estimated at £85,160,000 leaving an estimated revenue surplus of £30,000. The surplus for 1986-7 was £1,276,000.
Text read from the printed page and cleaned; old type leaves the occasional error.