SAVINGS BY YOUTH
Proposal For Trust Fund
(Parliamentary Reporter) WELLINGTON, July 7. Support for a scheme designed to take part of the earnings of young people and hold the money in trust for use in years of maturity was pledged by Mr J. H. George (Govt., Central Otago) in Parliament today. “We could do much more than we are doing to encourage the savings of youth in our economy,” he said. “We have a duty to young people to encourage them to do more saving for themselves.”
It had been said that youth today had too much money in its pockets. There was no difference between the youth of today and that of other days—“but they do have a lot of money to spend.” Very many people would welcome some scheme whereby portion of the wages of young people were put into a trust fund for use at a later date.
“There are many young people who do save, and who do help themselves,” said Mr George. “They would surely have no objections to a scheme which would help thousands of others.”
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Bibliographic details
Press, Volume CIII, Issue 30487, 8 July 1964, Page 3
Word Count
182SAVINGS BY YOUTH Press, Volume CIII, Issue 30487, 8 July 1964, Page 3
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