LOANS TO LOCAL BODIES.
(srzcuL to "thi f_ess.") WELLINGTON, September 5. During consideration of the Estimates to-night, Mr Massey urged on the Government the necessity of reducing the rates of interest on loans granted to local bodies. About three or four years ago the vote was increased from 3} per oent. up to 5 per cent. Local bodftea in country dSstncta were inclined to take advantage of the Government's policy, and they should bo given every encouragement to do so. He thought nothing would be lost by reducing the interest by at least i per cent., though jpersonaSly he thought it should bo reduced more. The Premier replied that he, was quite prepared to consider Tihetlher this could be done. Ho admitted 4hat the local bodies should have every encouragement. The money lent to local bodice last year, however, was very considerable, and it was a mistake to suppose that local boddes could get aH the money they asked for. because tho country could not afford it.
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Press, Volume LXII, Issue 12591, 6 September 1906, Page 9
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167LOANS TO LOCAL BODIES. Press, Volume LXII, Issue 12591, 6 September 1906, Page 9
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