RETRENCHMENT.
! ♦ SAVING £50,000 WEEKLY. | When the House discussed the operaj tion of retrenchment last week, the Prime Minister placed before members I a formidable lis: of Liabilities, and it j was the subject of remark that he did j cot present the other side of the bal-ance-sheet, an almost equally nig to- ) tal of economies in operation, It i; ' now understood, however, that he gave a very reassuring financial statement 1 to member- of his party at the recent 1 meeting, the savings' being officially estimated at £50,000 per week. If all the wage cuts provided for in ■ the Public Expenditure Adjustment ■ Act are operated, the saving on the salary bill would be £4,042,000. One cue has been in operation since January, involving savings at the rate of £BOO,000. Even heavier saving* seem to have been effected in other directions in view.of the fact that current economies are officially estimated at the rate of £2.6oo.ih"i(i per annum, with another wages cut —possibly modified —to operate fTOm the beginning of this month.
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Bibliographic details
Otaki Mail, 5 July 1922, Page 2
Word Count
171RETRENCHMENT. Otaki Mail, 5 July 1922, Page 2
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