ADVICE BY TREASURY
Questions In House (FaritemMUMV Reporter) WELLINGTON, Out 16. A decision by a harbour board on whether to borrow from the World Beak rested entirely wdto each bomd. said the MkMSter of Finance (Mr Lake) in the House of Bapreeentetivee today. Mr 8. A. Whitehead (Opp.. Netaon) bad asked whether the Treasury’s reported advice to the Lyttelton Harbour Board to accept e World Bonk loan had been authorised by Mm. He asked whether the Treasury had exceeded its authority in giving thia advice.
No ouch assumption should be made, said Mr Lake. No authority was needed for the Treasury to make such a statement and it was acting to the pubMc interest to advise the board to accept the loan. The Prime Minisetr (Mr Holyoake) asked Mr Lake to confirm that the Treasury frequently gave advice to local bodies along the lines of which source it thought was beat to borrow from. Mr Lake agreed that this wee 80. Ninety-eight countries belonged to the International Monetary Fund and 97 to the World Bank. Mr Lake told Mr R. D. Muldoon (Govt.. Tamaki). Nine countries joined both bodies Ln the 1982-63 financial year, and none withdrew. Thirteen countries had joined since.
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Press, Volume CII, Issue 30264, 17 October 1963, Page 18
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202ADVICE BY TREASURY Press, Volume CII, Issue 30264, 17 October 1963, Page 18
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