Sir Robert pessimistic
PA Ashburton A “crisis in the household sector” is predicted by the former Prime Minister, Sir Robert Muldoon. It will hit, he said, in the second half of this year. Speaking in Ashburton last evening, Sir Robert said people would then begin to default on their commitments, mainly because of. high interest rates. This, he said, would usher, in a severe recession. Interest rates would rise to unsustainable levels. Sir Robert said the Government was acting on wrong advice from some public servants in the Treasury and had “cemented in place” a high interest rate structure which was doing “incalculable damage” to the economy.
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Press, 24 July 1985, Page 8
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107Sir Robert pessimistic Press, 24 July 1985, Page 8
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