Farmers’ plight
Sir, — The young farmers shown on “Close Up” on Thursday complained that the Labour Government’s changing of the interest rates on their Rural Bank loans was the cause for many to be put
in danger of having to go off the land. The real reason is that they entered into a contact that was not viable. The land was grossly overpriced for the amount of stock it could carry and to service the debt. I think the blame should be shared by them and their farm advisers and the Rural Bank for allowing them to enter into such an uneconomic proposition. All other persons who borrow money have had their interest rates increased, in most cases by a much greater amount than the Rural Bank rates, so I do not see why the farmers should get any other special treatment, except those who are affected badly by the drought. — Yours, etc., N. HORN. July 14, 1985.
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Press, 18 July 1985, Page 16
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158Farmers’ plight Press, 18 July 1985, Page 16
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