TRADING BANKS IN N.Z.
MR NASH REPLIES TO QUESTIONS
NO FURTHER ACTION AT PRESENT (From Our Parliamentary Reporter.) WELLINGTON, August 27. Having bought the shares of the Bank of New Zealand and bearing in mind the control exercised by the Government over the banking system generally through the State-owned Reserve Bank of New Zealand, the Government did not propose to proceed further along these lines in existing circumstances, said the Minister of Finance 'Mr W. Nash) in the House of Representatives this afternoon in a written answer to a question whether trading banks would be nationalised in New Zealand on lines similar to those announced in Australia. Mr Nash, in reply to another questioner. said this reply also answered his inquiry whether branches of the nationalised Australian Banks would be allowed to compete with the Bank of New Zealand. Discussing the answer. Opposition members tried to get further information about the Government’s intentions. but without success.
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Bibliographic details
Press, Volume LXXXIII, Issue 25274, 28 August 1947, Page 8
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156TRADING BANKS IN N.Z. Press, Volume LXXXIII, Issue 25274, 28 August 1947, Page 8
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