DEBT TO BRITAIN

Hokitika Guardian, 23 November 1932, Page 4

DEBT TO BRITAIN

NEW ZEALAND’S WAR ISSUE

moratorium; continues,

(Per Press Association Copyright.)

WELLINGTON, November 22,

Any decision that plight he made by the United States;) -against a renewal of the Hoover moratorium will not affect New Zealand’s, debt payment to Great Britain, according to a state T ment by the Prime Minister, Rt. Hon. G. W. Forbes, on Saturday.. Recent cablegrams from London state that the United States ha s ‘demanded payment of £28,000,000 from ‘"Great Britain on December 13.

The Prim e Minister said New Zealand would not have to pay her share of the war debt to Great Britain. He had explained in his Budget speech that Britain had agreed to suspend for another year all payments du* on the Funded, War Debt and certain other debts due to the British povernment. The Dominion would be relieved to the extent of £825,000, while the State Advances Department would benefit to the extent of about £47,000. Mr Forbes said the postponement of these payments meant a great deal to the Dominion, 'for the' budgetary position would have 'been seriously affected had New Zeeland been called upon to pay the amount.