DEVELOPMENT OF PUBLIC WORKS
SUBSTANTIAL LOAN TO BE RAISED BROADCAST BY PRIME MINISTER TO-NIGHT From. Our Own Reporter WELLINGTON, May 26. An important broadcast will be made by the Prime Minister (Mr Holland) from all national and commercial stations at 6.45 p.m. to-morrow night. The Prime Minister will give details of a substantial internal loan to finance capital works for hydro-electric development. housing and schools. The Government intends to use this loan to replace the present “tap issue” and instead of financing works by the creation of credit, by the Reserve Bank. No details of the amount of the loan or the interest rates are available. The loan is expected to be a big one.
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Press, Volume LXXXVI, Issue 26123, 27 May 1950, Page 8
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115DEVELOPMENT OF PUBLIC WORKS Press, Volume LXXXVI, Issue 26123, 27 May 1950, Page 8
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