Article image
Article image
Article image
Article image
Article image
Article image

Government Loans

Sir, —Thank you for forwarding my recent letter to the appropriate quarters and I thank Mr D. C. Seath, acting Minister of Finance, for his comments, which, I feel, avoid the point raised. I agree that New Zealand must borrow money overseas, that we have the assets to fund such loans; but my point was: why do we borrow money overoffere 7 per cent overseas but (as a Government) can offer only 51 per cent here for Government loans? Sound finance investments here offer 7 per cent. The Government offers 5 per cent overseas but offers much less within New Zealand. There are many of us who would invest in Government loans here at 7 per cent and in such cases we would not have to export goods to raise the interest required. The interest so paid would remain in New Zealand. Retired folk like myself cannot afford to invest in Government loans here. We need the higher income and it seems to me to be sound policy to encourage loans within New Zealand. I hope someone can enlighten me.—Yours, etc., PARDON MY IGNORANCE. October 3, 1966. [Mr Seath has not replied to an invitation to comment on this letter.]

A motion of sympathy with the relatives of Cr. L. L. Smith, who died on Tuesday, was carried at last evening’s meeting of the Heathcote County Council

This article text was automatically generated and may include errors. View the full page to see article in its original form.
Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/CHP19661125.2.99.3

Bibliographic details

Press, Volume CVI, Issue 31226, 25 November 1966, Page 12

Word Count
229

Government Loans Press, Volume CVI, Issue 31226, 25 November 1966, Page 12

Government Loans Press, Volume CVI, Issue 31226, 25 November 1966, Page 12