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THE POST

OFFICE AND TELEGRAPHS

(MONEY) BILL, 1928.

(Previous

Reference: Cabinet 6.

(28). Con- clusion 8 & Appendix.)

In

11. The Cabinet had before them a Note by the Postmaster-General (Paper C.P.-238 (28)) covering a draft Post Office and Telegraphs (Money) Bill,

together with an Explanatory Memorandum, this Memorandum it was explained that the object

of the Bill was to obtain Parliamentary authority

for the issue of advances for capital expenditure

required for the Postal and Telegraph systems (the capital expenditure on which had hitherto been borne on the Votes) as well as for the

Telephone systems. The Bill would authorise the

issue of £27,500,000, of which it was estimated £25,000,000 would be required for the Telephone service and £2,500,000 for the Postal and "elegra phic services. It was anticipated that this sum,

when added to the unexpended balance of

£4,200,000 available as at the 30th June from

the previous Act, would meet the capital require-

ments up to the 31st March,

1931.

The Cabinet approved the intro- duction in the House of Commons of the Post Office and Telegraphs (Money) Bill.

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