National Party policy
Sir, — J. F. Garvey (May 25) tells me, through your columns, that I do not understand National Part}' policy — but then who does? Your correspondent obviously enjoys the privilege of being a confidante of our Minister of Finance, so perhaps he will clear up another of my blind spots. By offering 13 per cent and 11 per cent interest the Government saving scheme has succeeded in withdrawing almost $lOOOM> of purchasing power from circulation. This, surely, should have a deflationary effect — but not so. Why? What is the Government actually doing with this idle amount? In terms of the present unemployment situation J. F. Garvey is telling the unfortunates: “No dice mate, you’ve had it.” As for overseas borrowing, even J. F. Garvey cannot excuse Mr Muldoon for doing in excess what he once described as “unnecessarv borrowing by Labour.” Finally, I had
never realised that electricity, food and clothes were non- essentials. — Yours, etc., ARTHUR MAY. May 25, 1979.
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Press, 28 May 1979, Page 16
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163National Party policy Press, 28 May 1979, Page 16
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