INTEREST RATES
LIFTING of control ADVOCATED 'AUCKLAND STOCKBROKER’S OPINION (New Zealand Press Association) AUCKLAND, December 15. The view that interest rates should be freed from control and allowed to find their own level was expressed at .the annual meeting of the Auckland Stock Exchange today by the chairman (Mr D. A. Schnauer). He instanced the immediate success on the London market of New Zealand’s recent £10,000,000 loan. It was prudent to recall that while the demand for fresh capital was increasing so was capital erosion because of excessive taxation, he said. Capital could come only from savings, and the ability and incentive to save should not be denied the people. The urgency of freeing New Zealand’s economy from controls should be impressed upon the Government continually, Mr Schnauer said. Capital issue control had served its purpose.
Praise was due to the Government for bringing more new country into productivity, and also to the Reserve Bank and the trading banks for their careful handling of the Dominion’s industrial and commercial problems, Mr Schnauer said.
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Bibliographic details
Press, Volume LXXXIX, Issue 27224, 16 December 1953, Page 3
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173INTEREST RATES Press, Volume LXXXIX, Issue 27224, 16 December 1953, Page 3
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