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Shannon News, 17 August 1928, Page 3

"At the moment, New Zealand is in a condition of financial ease, and bankers are in a position to find practically unlimited capital for the development of trade and industry provided borrowers can furnish the necessary security," said Sir Harold Beauchamp, at Auckland on Tuesday. In his Financial Statement, the Minister of Finance, in dealing with the requests by racing clubs for reduced taxation, says: "I would suggest for consideration that the most practicable way in whieh assistance can be given to the smaller clubs is to fix the totalisator tax on a graduated scale, so as to praetieally exempt the small clubs from taxation. So far the metropolitan clubs have not received this proposal with favour,"