Economic fall predicted
Parliamentary reporter
Social Credit has predicted a severe downturn in the retail industry, rising unemployment, and high inflation as a result of the interest rates accepted in the latest tender of Government stock. The Social Credit leader, Mr Beetham, said that the Government’s willingness to Siy nearly 18 per cent in e tender would set the highest base line for interest charges and the highest over-all interest rate structure New Zealand had known. , “This will ensure that an inflation level which could now be reaching towards a similar percentage by late 1985 is cemented into tne economy,” Mr saw. 5 -’
One of the worst results was that consumer finance, the dearest form of money, would become so expensive
that many consumer goods would not be sold, and the retail industry would experience a severe downturn.
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Press, 24 October 1984, Page 8
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138Economic fall predicted Press, 24 October 1984, Page 8
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