LONDON CAPITAL MARKET
______ i LONDON, July 30. The announcement by the Chancellor ( of the Exchequer, Sir John Anderson, that for an indefinite period municipal borrowing will be centralised has important implications. Continued control over access to the capital market with a view to maintaining "cheap money" policy is foreshadowed by the announcement, which also Indicates preparatory planning for carrying out the recommendation In the employment policy of the White Paper that the Government should Influence the timing ol capital expenditure as a means of securing full employment, and control over the trade cycle. The expenditure of local authorities and public utilities In the past has tended to fall during a slump and rise in a boom. Many local projects cannot be satisfactorily postponed, but with these exceptions the Government apparently sees possibilities suggested In tho submission by local authorities of five-year plans of capital expenditure, with a view to their adjustment to the employment situation.
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Auckland Star, Volume LXXV, Issue 182, 3 August 1944, Page 3
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155LONDON CAPITAL MARKET Auckland Star, Volume LXXV, Issue 182, 3 August 1944, Page 3
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