Debt will "be paid by farmers’
I (N.Z. Press Association) HAWERA, Oct. 22. The Labour Government had increased overseas debt iby s2ooom in the last three I years, and farmers would be called on to pay back 80 per Icent, which was $29,100 for | every farmer, said Social ICredit’s agricultural spokes-i .man (Mr N. Johnston) in IHawera today. i “This debt is still increasing at the average rate ofi $5 a week for every man.' woman and child. The latest figures available show that' in August alone, New Zealand’s total net borrowing ; overseas increased by $150.5 million. “If Labour’s debts are not | repaid, then foreigners could' well take over New Zealand’ ‘and its assets jn settlement of the country’s debts. It is; therefore irresponsible for the Labour Party to ignore, farmers, farm workers and the rural community, who; represent the only significant export sector which can earn overseas funds to stop the growth of debt and pay it! back.”
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Bibliographic details
Press, Volume CXV, Issue 33981, 23 October 1975, Page 2
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159Debt will "be paid by farmers’ Press, Volume CXV, Issue 33981, 23 October 1975, Page 2
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