EARTHQUAKE LOANS
Cabinet Ministers to Meet Hawke's Bay M.P.V REDUCTIGN OF INTEREST A conference with the Prime Minister, the Rt. Hon. M. J. Savage, and the Minister of Finance,, the Hon. Walter Nash, is to be held on Tuesdajy evening by the Members of Parliament for the Hawke's Bay, Napier and Waipawa electorates, Mr E. L. Cullen, the Hon. W. E. Barnard, and Mr H. Ghristie respectively, regarding a more equitable arrangement for the xepavment of the earthquake loans by local bodies. Gonsiderable disappointment ha* been expressed by prominent officials of vanous local bodies concerned in the earthquake loans at tho fact that the Minister of Finance has intimated that the Government proposes to allow only a reduction of a half per cent. in the interest charges on, the loans. lt is felt that local bodies at least should be placed in the same position as that of private borrowers, who have to pay no interest on the money borrowed. Other representatives go even further and maintain that the treatment 'accorded to the Napier Borough Council whereby the whole of that body's liability was cancelled, should be made to apply to all other local bodies who raised loans for earthquake rehabilitalion of public services.
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Bibliographic details
Hawke's Bay Herald-Tribune, Volume 81, Issue 43, 13 November 1937, Page 6
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204EARTHQUAKE LOANS Hawke's Bay Herald-Tribune, Volume 81, Issue 43, 13 November 1937, Page 6
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