PUBLIC DEBT.
INCREASE DURING YEAR. RELIEVING MOVEMENTS. (By Telegraph.—Parliamentary Reporter.) WELLINGTON, Tuesday. "It is the Government's policy not only to refrain from further borrowing abroad, apart from conversion operations designed to lighten the interest burden on the existing debt, but also to endeavour to reduce steadily the amount of overseas indebtedness," stated Mr. Nash to-night in referring in his Budget speech to public debt.
As a result of operations durin® the year, said Mr. Nash, the long-term public debt showed an increase of £1,979.881, bringing the debt as at March 31, 1936, to £282,561,098. However, the external debt of the Dominion to be provided for out of her exports had fallen by £2,851,200. This and other movements represented a considerable improvement in the debt position as a whole; any particular reduction in the debt held abroad meant a lightening of the debt burden upon the Dominion.
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Bibliographic details
Auckland Star, Volume LXVII, Issue 184, 5 August 1936, Page 11
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146PUBLIC DEBT. Auckland Star, Volume LXVII, Issue 184, 5 August 1936, Page 11
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