Lower interest rates sought
PA Dunedin Otago Federated Farmers are calling for a national refusal by farmers to pay interest rates “above an affordable level” unless the Government reduces interest rates. Unless Government policy was immediately reversed and interest rates reduced, many Otago farmers were going to face operating losses of up to $50,000 this year, an executive meeting was told. >, The president; of Otago ,
Federated Farmers, Mr C. A. Richardson, said it was a ridiculous situation which farmers could not afford to let continue. The branch resolved that the Government be called on to introduce immediately a policy to reduce interest rates. The branch instructed the Dominion Council of Federated Farmers to investigate the feasibility of an organised national refusal to pay interest rates above an affordable level if the Government fails to act.
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Press, 20 February 1986, Page 19
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135Lower interest rates sought Press, 20 February 1986, Page 19
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