INTEREST ON DEPOSITS
GOVERNMENT DECISION COMMENDED "The Government’s refusal to increase deposit rates was a wise move so far as building societies are concerned," says the annual report of the directors of the Southland Building and Investment Society for the year ended March 31. "Any Increase would have meant railing the rate of Interest to borrowers, many of whom are paying to the limit of their resources on houses built or purchased over the last few years. With the gradual increase in local body rates to what might be termed a preferential rent, it is to be hoped that the Local Bodies Loans Board will give consideration to the ability of ratepayers to pay increased rates when considering some of the very costly ventures now being suggested • by local bodies having rating powers over their respective districts.
"Building costs are still on the upgrade and apparently little is being done to stabilise costs. Directors of lending institutions could do much to retard rising costs by generally reducing the lending margin on new buildings."
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Bibliographic details
Press, Volume LXXXVIII, Issue 26729, 13 May 1952, Page 11
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173INTEREST ON DEPOSITS Press, Volume LXXXVIII, Issue 26729, 13 May 1952, Page 11
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