Opera House sold
The Cabinet has agreed to let the State Insurance Office buy the Wellington Opera House. The Prime Minister (Mr Muldoon) said that by de ciding to remit rates on the building the Welling
ton City Council was bearing part of a subsidy burden to be taken on by the insurance office. In this case, the subsidy took the form of revenue foregone by the insurance office because it would get a lower return on its money than it would have through normal investment.
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Press, 25 February 1977, Page 21
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86Opera House sold Press, 25 February 1977, Page 21
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