LOANS TO LOCAL BODIES.
——-—e —_. . THE LEGACY LEFT BT FORMEB GOVERNMENTS. (By Telegraph-Press Association.) Auckland, November 27, The Prime Minister, replying to a dopm tatjon from several large local suburban bodies on the subject of loans to local bodies, said that the Government did not intend to lose anything in granting loans. It was unfair.to ask the general taxpayer to make up such deficits. During the next few years the Government had to arrange for the conversion and renewal of fifteen or sixteen million pounds' worth, of debentures, a great deal of which would have to be raised in London. Until these arrangements had been made, it would be quite impossible to say what could be done for suburban local bodies. He proposed to remove the JSOOO limitation at the earliest possible moment, but it could not be vet.
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Dominion, Volume 6, Issue 1609, 28 November 1912, Page 4
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139LOANS TO LOCAL BODIES. Dominion, Volume 6, Issue 1609, 28 November 1912, Page 4
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