‘Debt costs $107,000 a day’
PA Wellington A Meat Board debt of $l2l million is costing $107,000 a day in interest payments while the Government decides what should be done with it
A board director, Mr David Frith, told the Meat and Wool Board’s electoral committee that as long as settlement was not reached the debt would continue to grow. The board’s meat income stabilisation account deficit incurred through price-smoothing schemes, stands at nearly $1 billion. This includes the $l2l million which is a carryover from the 1984-1985 season.
Because of a change in Government policy the cost of the carry-over is coming from commercial sources.
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Press, 25 August 1986, Page 14
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106‘Debt costs $107,000 a day’ Press, 25 August 1986, Page 14
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