Loan Finance
Sir,—How obtuse can our Minister of Finance be? When I give him a friendly pat on the back for finding a way to loan money as cheap as 1.4 per cent and gently suggest that he should pursue the matter further, he charges me with favouring monetary policy similar to that supported by the Social Credit Political League. Frankly, I don’t think he understands what the league stands for, or where he is heading in his switch from finance from the International Monetary Fund to the source from which he now proposes to borrow at 7] per cent, surely a record. In less than 13 years we will have paid back the whole of the principal sum in interest and still owe the original loan. Surely the wizard of finance of last month cannot allow his touchiness on Social Credit to drive him into being touched by German lenders for 7] per cent. —Yours, etc., W. B. BRAY. Leeston, January 15, 1968.
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Bibliographic details
Press, Volume CVIII, Issue 31579, 17 January 1968, Page 14
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164Loan Finance Press, Volume CVIII, Issue 31579, 17 January 1968, Page 14
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