PUBLIC DEBT
INCREASE LAST YEAR
PUBLIC WORKS AND HOUSING
An increase of £18,937,000 in the total Public Debt during the pastyear is revealed in the, annual report Of the Controller and Auditor-General which was tabled in the House of Representatives yesterday afternoon. The total debt as at March.3l last was £322,900,000. The king-term debt was increased by £10,000,000 and shorU term .Treasury Bills increased by just over. £8,880,000.
Additions ■ during the ■ year included £9,500,000 for public works general purposes account, £5,100,000 for housing, £2,600,000 for main highways, and £3,086,000 for War Expenses Account. Included in the debt increase is an amount of £1,080,000 Treasury notes issued to secure advances. negotiated by the Export Credits Department of the y.United Kingdom. The Department has agreed to negotiate' Treasury notes up to a value of £ 5,000,000 sterling to enable the New Zealand Government to purchase goods, in the United .Kingdom. , # y The report refers to a loan of just over £ 17,000,000 which ; matured at January 1. To enable this to be paid off a new loan of £16,000,000 was raised, and the sum of £107,777 was paid to the Bank of England for services rendered in connection with the new loan.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19400801.2.52
Bibliographic details
Evening Post, Volume CXXX, Issue 28, 1 August 1940, Page 8
Word Count
198PUBLIC DEBT Evening Post, Volume CXXX, Issue 28, 1 August 1940, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in