"LAVISH SPENDING."
LONDON PAPER'S OPINION.
PRESERVE FINANCIAL STATUS.
LONDON, July 14. "Unless steps are taken to preserve New Zealand's financial status it seems the initiative must come from the banks," says the "Financial News." "Mr. Savage apparently is not worried by the fall of sterling balances in London. The position would not be so bad if there was real support for Mr. Savage's contention that the London funds are being used up to make up arrears in New Zealand's purchases of capital equipment. Unfortunately, the trade figures show the increased, imports are mainly of foreign motor cars.
"There is no doubt the lavish Government expenditure is at the root of the problem. It is high time the Cabinet removed the present threat to New Zealand's stability." ,
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Bibliographic details
Auckland Star, Volume LXIX, Issue 165, 15 July 1938, Page 10
Word Count
126"LAVISH SPENDING." Auckland Star, Volume LXIX, Issue 165, 15 July 1938, Page 10
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