Farmers’ incomes
Sir, — “Retired Farmer” does not appreciate the importance of price stability, and levelling of incomes at the present time. The high prices currently being paid for farms mean a greater portion of farm surplus is required to meet interest and capital repyaments. A table mortgage of, say, $75,000 at 7j per cent, demands an annual repayment of $5625, not including the tax on the capital portion of repayment. From an address in March, 1975 by Mr F. L. Ward, director of the New Zealand Meat and Wool Board’s Economic Service, average income for all farmers was $5300. This figure has to cover personal living and taxation as well as the capital repayment figure mentioned. As is already obvious, this particular example already requires overdrawn financial support. Farmers are not trying to bluff anybody. — Yours, etc. ROSS J. HYLAND. June 12, 1975.
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https://paperspast.natlib.govt.nz/newspapers/CHP19750616.2.116.4
Bibliographic details
Press, Volume CXV, Issue 33870, 16 June 1975, Page 16
Word Count
143Farmers’ incomes Press, Volume CXV, Issue 33870, 16 June 1975, Page 16
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