Savings
Sir,—Surely Mr Nordmeyer had his tongue in his cheek when he discussed the drop in Post Office Savings Bank figures in Christchurch last Wednesday. Under the socialists, the small investor was penalised if be did not make his money available to the State. Local bodies were the sufferers—shortage of money for drainage work, etc. Under National, with greater incenttyes tor saving, the introduction of savings bonds, higher interest rates for Government stock, local body debentures and building societies and the, withdrawal of the socialist penalty taxation clause, money will now be transferred to where investors can get the best return. The Post Office Savings Bank now fulfils its true role as a savings bank for the small investor, umtil such time as he has sufficient to reinvest at a higher rate of interest. Incentive is What the socialists lack.—Yours, etc., A SMALL INVESTOR. April 12, 1962,
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Bibliographic details
Press, Volume CI, Issue 29797, 13 April 1962, Page 8
Word Count
147Savings Press, Volume CI, Issue 29797, 13 April 1962, Page 8
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