Funding Crisis

Arthur's allotted week wasn't just for the newly elected cabinet members to familiarize themselves with their positions; it was also for them to access and gain a deep understanding of the nation's data and information across various sectors.

Among the eleven cabinet members, apart from the original six governors, the others, although having official backgrounds, lacked the authority to access data and information pertaining to all of Australia. Consequently, their understanding was not very clear.

Under such circumstances, if they were immediately thrown into cabinet work, they would be like headless chickens, running around in confusion.

Therefore, it was better to give them a period of understanding and adaptation, which would allow the cabinet government to function more effectively.

In the blink of an eye, a week passed quickly, and it was soon the day of the cabinet meeting Arthur had spoken of.

The cabinet members were very obedient. Before today, they had all resigned from their previous positions.

However, due to the varying election outcomes in each state, the original positions of state governors had to be temporarily retained.

The familiar government buildings, the familiar conference room, but the number of people attending the meeting had drastically reduced from 199 to 12.

Seated in the central position, Arthur looked at everyone with anticipation and said with a smile, "Everyone, I believe after a week of familiarization, you have gained a basic understanding of Australia's situation. Now, we can officially begin discussions on Australia's development plan and set this nation on the path to true rise."

"Let's start by discussing the status of your respective departments and your thoughts. Everyone, please speak freely. Any idea that benefits the nation's development can be brought up for discussion," Arthur said with a smile.

Although Arthur possessed the soul of a transmigrator and was unlikely to make major mistakes in the overall direction of national development, as the saying goes, many hands make light work. Those elected as cabinet members were all capable individuals, and their suggestions might offer perspectives Arthur hadn't considered.

"Let's start with the Treasury Department. What is our country's current financial situation? How much usable funds does the nation have left?" Arthur asked, looking at the Minister of the Treasury, Roger Joseph Ebert.

As the saying goes, an army marches on its stomach. National development is similar; before formulating various development plans, ensuring the nation has sufficient funds for development is crucial.

Without adequate funds, developing the nation would ultimately be mere empty talk.

"Your Highness, it's not very ideal. Although consolidating the six original colonies into one nation will bring a certain degree of growth to our economy and various industries, currently, the government's funds are quite scarce. We can barely maintain the government's operations," Roger Joseph Ebert said with regret, shaking his head.

The consolidation of Australia had been too recent. Although various economic aspects showed signs of development, it would take several years to see significant increases in fiscal revenue.

Moreover, Arthur had previously significantly reduced taxes for Australians, which directly led to a decrease in the Australian government's income.

"How much money is currently on the books?" Arthur asked, frowning.

After the colonial reforms, the previous system of independent taxation by each state was replaced by a system where each state collected taxes, with a large portion handed over to the central government and a small portion retained for self-use.

However, only one tax collection had occurred so far. Due to Arthur's substantial tax reductions, the government's tax revenue was only a little over one million pounds sterling.

Including other various incomes, the total revenue of the Australian government was less than three million pounds sterling. After deducting all expenses, the government's usable funds were less than two million pounds sterling.

"Your Highness, after deducting all expenditures, the government's usable funds are just over 1.9 million pounds sterling," Minister Roger Joseph Ebert stated.

The remaining funds were substantial because the previous interim Australian government had been largely inactive, so expenses were limited to paying government personnel salaries.

However, less than two million pounds sterling was undoubtedly a drop in the ocean for the development of the entire Australia, or even like a stone sinking into the sea, unable to make any ripples.

Upon hearing Minister Roger Joseph Ebert's words, everyone present was in an uproar.

While everyone was busy envisioning their departmental plans, Minister Roger Joseph Ebert's words had undoubtedly poured a bucket of cold water on them, extinguishing the nascent plans in their minds.

"Minister Roger, is that true? If the government only has this much development funding, it's not even enough to purchase equipment," Prime Minister Evan was the most surprised. During his tenure as Premier of New South Wales, the state's annual tax revenue had reached two million pounds sterling. How could the consolidated government's funds be less than two million pounds sterling?

"It is indeed true. According to our tax policy, we won't see any further revenue until October this year," Minister Roger Joseph Ebert nodded.

Everyone turned their gaze to Arthur. After all, a major reason for the Australian government's current lack of funds was the significant tax reduction Arthur had implemented.

The unspoken consensus among them was simple: since the government was facing difficulties, it was Arthur's responsibility as the ruler to find a solution.

"Alright, how about this! In the name of the Royal Family, I will provide the government with an interest-free loan of one hundred million pounds sterling. Additionally, I will provide fifty million pounds sterling worth of industrial equipment to the government at market price. This way, the government won't have to purchase industrial equipment at inflated prices from Europe and will have sufficient funds for development," Arthur declared, decisively ending the awkward silence.

Seeing that the government now had funds and their plans had a chance of being realized, everyone became motivated, attempting to secure a larger share of the funding.

"Industry is of paramount importance. Let's hear the plan from the Ministry of Industry first," Arthur called out to Minister Pierre Silvio Berlusconi.

Minister Pierre Silvio Berlusconi stood up without hesitation and said, "Your Highness, our country's industrial development is currently very backward. We are severely lacking in both basic and advanced technological industries. My suggestion is that we concentrate our efforts on developing basic industries for now. Relying on the mineral resources in our western regions, we can establish a large industrial base. Once our basic industries are developed, it will not be too late to explore advanced technological industries."

Frankly speaking, Australia's foundation was too weak at the moment. One could not get fat with a single bite.

Only by fully developing Australia's basic infrastructure and industries could the nation concentrate its efforts on researching more advanced technologies and industries, catching up with European countries.

First update, seeking support and all kinds of votes!