BNZ offer criticised
PA Wellington The Labour Government’s tight monetary controls were being undermined by one of its agencies, the Opposition finance spokesman, Mr Michael Cox, said. The Bank of New Zealand had delivered invitations to householders offering $lO,OOO with up to five years to repay, he said. “This is available to non-B.N.Z. customers and is advertised as being a loan to beat those inevitable GST price increases - for a holiday in Britain - to purchase a hi-fi system of your dreams,” Mr Cox said. He said it seemed extraordinary the B.N.Z. should be inviting the public of New Zealand to borrow for such expenditure when inflation was out of control. Mr Cox said the loans, if taken out for such things as overseas trips, hi-fi and to beat GST price increases, would produce not one extra job.
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Press, 14 February 1986, Page 26
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137BNZ offer criticised Press, 14 February 1986, Page 26
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