Rates
Sir,—J. Blackwell asks from where or from whom will come interest-free loans for local bodies. The loans could come from the Reserve Bank, which is owned by the people of New Zealand, in a similar maimer to the practically interest-free loans granted to the dairy industry. Hie beauty of this method is that we would only pay once for a job; not tice or more as we do now on loan moneys. The continuously rising amount of interest which local bodies pay is an evergrowing burden to ratepayers, and if the trend continues more and more of our rates will be swallowed up in servicing and repaying loans. At the moment in Christchurch nearly 10s in every £1 of rates collected goes for these purposes.— Yours, etc., JOE POUNSFORD. June 28, 1963.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19630701.2.8.5
Bibliographic details
Press, Volume CII, Issue 30171, 1 July 1963, Page 3
Word Count
133Rates Press, Volume CII, Issue 30171, 1 July 1963, Page 3
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.
Log in