PREMIUM BONDS ISSUE
MONEY FOR STATE PROPOSAL IN ENGLAND By Cable.—Press Association. — Copyright. RUGBY, Thursday. A proposal to issue premium bonds as a means of raising money for the State on advantageous terms has been made and Conservative members of the House of Commons are being circularised on the subject. The circular is signed by Colonel Gretton and Sir Frank Nelson, chairman and secretary of the Conservative Economic Group, and it asks for the views of members on the proposal. The scheme has been worked out, and it is contended that by the introduction of the element of chance, with substantial money prizes, large sums could be raised by the Government at 2 or 2h per cent, interest. Representations may be made to the Government early next session if the opinions expressed are favourable. It may be recalled however, that the Prime Minister, Mr. Stanley Baldwin, has already expressed his disbelief that such a method of raising revenue would be generally acceptable. Any such proposal would undoubtedly be the subject of acute controversy.—A. and N.Z.
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Sun (Auckland), Volume I, Issue 224, 10 December 1927, Page 9
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175PREMIUM BONDS ISSUE Sun (Auckland), Volume I, Issue 224, 10 December 1927, Page 9
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