DOMINION FINANCE.
THE GOVERNMENT’S POLICY. (Per Press Association.) Auckland, November 15. In replying to a deputation, the Prime Minister made a statement with reference to the- Government’s policy regarding finance. Mr Massey sa:d that as far as the price of money was concerned the present Government had come to a decision as to what policy should be pursued in differentiation between loans for develop'iu nt aad non-development purposes. In the latter case, money would only lie advanced at the rate it cost the Government, for It was only reasonable and fair that the taxpayers should not bo burdened with any such cost in the case of loans intended for development purposes. However, a considerable reduction would bo made. Much the same system would prevad as in the old days of the Government Loans to Local Bodies Act, which, was in operation before the introduction of the State-guaranteed Advances Act. Loans for development work would have the first call for attention.
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Stratford Evening Post, Volume XXXIV, Issue 71, 16 November 1912, Page 5
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160DOMINION FINANCE. Stratford Evening Post, Volume XXXIV, Issue 71, 16 November 1912, Page 5
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