RESERVE BANK BUILDING
POSTPONEMENT OF CONSTRUCTION
•'The Press" Special Service WELLINGTON, June 29.
The Reserve Bank is contributing to the Government's anti-inflation campaign by postponing construction of its new multi-storey building in Wellington. The building was scheduled to be started about next March. Preliminary work for the building, however, is going on The Minister of Finance (Mr J. T. Watts) said the bank felt that, as it was continuing to urge economy in capital expenditure under present conditions, it was appropriate that it should follow this policy itself. The Government appreciated this action, as it was in line with steps the Government had taken to hold the level of capital expenditure during the year. Mr Watts said it was not generally appreciated that, as a percentage of the gross national product, the Government's expenditure on capital works had declined in the last three years, in spite of the increase in housing activities and many other urgent public projects.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19560630.2.74
Bibliographic details
Press, Volume XCIII, Issue 28008, 30 June 1956, Page 8
Word Count
158RESERVE BANK BUILDING Press, Volume XCIII, Issue 28008, 30 June 1956, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.