LOCAL-BODY LOANS
Press Asiociation.)
State May Have to Take Over Supply T00 HIGH RATES ASKED
(By Telegraph—
OAMARU, This Day. Speaking at a local bodies dinner last night, the Prime Minister, the Et. Hon. M. J. Savage, said that the time was coming when local bodies requiring capital moneys for necessary works approved by the proper authorities would have to be assisted by the Government. Under the present system local bodies were at the-mercy of those who lent money at rates of interest higher than should be paid. It was absurd that, after the Loans Board o£ the Treasury and the Finance Minister had approved expenditure on really necessary works, local bodies should be hampered by inability to get requisite finance to carry it out. The time was coming — and he hoped it would not be long — when the function of providing such money would be assumed bv the Government.
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Bibliographic details
Hawke's Bay Herald-Tribune, Issue 36, 26 February 1937, Page 5
Word Count
150LOCAL-BODY LOANS Hawke's Bay Herald-Tribune, Issue 36, 26 February 1937, Page 5
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