REDUCTION IN PAY
SMALL NUMBER OF R.N. OFFICERS
DISAPPEARANCE OF EXCHANGE DISCREPANCY (P.A.) Auckland, today. A small number of officers of the Royal Navy on loan to the Royal New Zealand Navy, mainly those of the rank of commander or above, will suffer a 20 per cent, reduction in pay as a result of the return of New Zealand currency to parity with sterling. They fere, with a few exceptions among junior ranks, including the Royal Marines, the only Royal Navy men in New Zealand who elected to remain on Royal Navy rates of pay. Officers and men of the Royal Navy have, since 1933. had the option, when on loan to New Zealand, of accepting New Zealand pay rates or remaining on. their own scale. Among ratings and junior officers the New Zealand rates were in general so much more advantageous that most men in these ranks changed from the United Kingdom pay scale. Among senior officers, however, the reverse was the case, and the majority elected to remain on Royal Navy rates, and to enjoy the advantage of the discrepancy in exchange, which has now disappeared.
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https://paperspast.natlib.govt.nz/newspapers/BOPT19480824.2.34
Bibliographic details
Bay of Plenty Times, Volume LXXVI, Issue 14757, 24 August 1948, Page 3
Word Count
188REDUCTION IN PAY Bay of Plenty Times, Volume LXXVI, Issue 14757, 24 August 1948, Page 3
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