ANTICIPATING REVENUE
On behalf of the Acting-Minister of Finance, the Hon. Sir Apirana Ngata, in referring to the issue of £.600,000 Treasury bills in London, pointed out to-day that the issue of these bills has no relation whatever to- the loan operations of the Government. The bills were issued in anticipation of revenue, a contingency that generally arises at this time of the year • when the ■ Consolidated Fund has not received the revenue from income tax. The bills mature on 14th March, 1931, and therefore will be paid off before the end of the financial year. The proceeds are to be used for 'general payments in London, such as interest, etc. Tho terms on which the bills were sold, at a discount of £2 os 9d per cent., compare favourably with the issue of Imperial Treasury bills on the same day at the rate of £2 2s lid per cent., said Sir Apirana Ngata.
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Evening Post, Volume CX, Issue 131, 1 December 1930, Page 9
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154ANTICIPATING REVENUE Evening Post, Volume CX, Issue 131, 1 December 1930, Page 9
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