LOAN COMMENDED TO INVESTORS
COMMENT BY MR H. E. SCHOFIELD (New Zealand Press Association) WELLINGTON, May 29. “The general principle of using money already in circulation for Government loan purposes instead of* printing Reserve Bank notes is to be commended,” said Mr H. E. Schofield, president of the Associated Chambers of Commerce, to-day. “The shorter term provided will attract investors and the rate is as good as the Government could reasonably offer without upsetting the rest of its loan investments,” he said. “The highlight of the proposal is the associated announcement that the Government will abandon the 33 1-3 per cent, super-tax on unearned incomes. This makes the loan much more attractive to the individual (companies not being affected by its abolition). “Inasmuch as the Prime Minister has made it plain that the money will be used only for works of a high priority and of an urgent nature, we commend the loan to the public, and also to business firms who have funds for investment, as being acceptable in itseif and as a check to inflation,” concluded Mr Schofield.
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Bibliographic details
Press, Volume LXXXVI, Issue 26125, 30 May 1950, Page 6
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180LOAN COMMENDED TO INVESTORS Press, Volume LXXXVI, Issue 26125, 30 May 1950, Page 6
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