The economy
Sir, — It is great to hear the president of North Canterbury Federated Farmers, Arthur Mulholland, joining the rising demand for a wholehearted attack on inflation. How. does the Government expect to encourage investment fin production (rather than unproductive “hedging against in- • flation”) without reducing the rate at which we print money to cover Government overspending? Interest rates for investors are artificially de-
pressed by Government decree. What little they do yield is massively taxed. The present United States Government has, with surprisingly little difficulty, achieved an inflation rate of 3 per cent-6 per cent - and small and large investors are pouring money into productive investment for a good return. ■ This country has no excuses. — Yours, etc., ■ J. HUNT. May 27, 1982.
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Press, 2 June 1982, Page 24
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123The economy Press, 2 June 1982, Page 24
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