THE TRADING BANKS
NO NATIONALISATION
ASSURANCE BY MR.NASH
BUDGET PROSPECTS
LONDON, May 18.
The New Zealand Minister of Finance, Mr. W. Nash, in the course of a long interview published in the
"Financial News," denied that his Government contemplated nationalising the trading banks, i Admittedly the Government had deprived them of two-fifths of their business through the marketing schemes, he said, but there were no signs that this had caused them unnecessary distress.
"The Government has no plans for extending marketing schemes," said Mr. Nash. "There is no prospect of inflation, as over half the expenditure on public works is being- met from taxation and the remainder from savings. "The Budget will show a much larger surplus than was anticipated," he said. "Both income tax and Customs have yielded more than the estimates.' There is no likelihood of internal borrowing at present."
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Bibliographic details
Evening Post, Volume CXXIII, Issue 117, 19 May 1937, Page 11
Word Count
142THE TRADING BANKS NO NATIONALISATION Evening Post, Volume CXXIII, Issue 117, 19 May 1937, Page 11
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