Kiwi Savings ‘disaster’
Since the Government started the Kiwi Savings Stock scheme, $lOO million has been taken out of circulation '■ in Canterbury, according to the regional spokesman for Social Credit, Mr W. F. Morgan. The scheme was a “disaster” for local efforts to generate employment Rather than “siphoning off the life blood” of the productive sector, the Government should be encouraging the use of small savings for
cheaper capital for small businesses and for home mortgages. “The Government expects, us to accept that we should be willing to pay more than $l2O million a year in interest just to do a little housekeeping on the economy,” Mr Morgan said. The Government should either close the scheme or direct the money raised through it back to local production.
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Press, 28 May 1983, Page 21
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127Kiwi Savings ‘disaster’ Press, 28 May 1983, Page 21
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