Nine Millions!
p. 16 · Read in the full issue
Estimated War Damage to Australia and Territories
THE report of the War Damage Com mission for 1945, tabled in Common wealth Parliament on April 9. shows that the Fund was in credit by £13.120,000, at December 31, 1945. Against this amount there is an estimated out standing liability of £7,522.000 —over £6 millions of which is in relation to claims from New Guinea.
At the end of 1944. the amount stand ing to the credit of the War Damage Fund was £14,947,565, and, as it was more than sufficient to cover war damage that had occurred or would occur, the Regu lations were amended to cover any subsequent war damage without any further contributions from property holders and, also, to extend the scope of compensation.
As a result of this policy, and the pay ment of some claims, there was an excess of £827,117 expenditure over income in the Fund in 1945.
Claims to the value of £2,036,933 had been assessed and recorded up to Decem ber 31, 1945. The work of assessment is going on steadily in all areas.
Cost of administration of the Fund (including the head office in Sydney and its branches) was £41,403.