B.N.Z. sale plan ‘must be resisted’
Attempts to sell off part of the Bank of New Zealand are undesirable and must be resisted, according to the youth wing of the Labour Party. . The president of Labour Youth, Mr Steven Bright, said the sale of shares in B.N.Z. could lead to shares in some of the new State corporations also being sold. “Just how many other State could end up in the hands of share-
holders?” he said. A fully State-owned B.N.Z. was as desirable today as it was when it was set up in the 19405, he said.
“In fact, with the wealth of the country being concentrated in the hands of a few, a Stateowned bank is an essential tool for the Government in the marketplace and any attempt to sell off bits of it must be resisted.”
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Press, 3 July 1986, Page 8
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139B.N.Z. sale plan ‘must be resisted’ Press, 3 July 1986, Page 8
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