FOR ANOTHER YEAR

Feilding Star, Volume 9, Issue 3850, 5 October 1932, Page 4

FOR ANOTHER YEAR

RESPITE ON WAR DEBTS RELIEF OF £820,000 LONDON NEGOTIATIONS One of the results of Mr lNnvnie Stewart’s negotiations with British Treasury officials in London h*a» been an arrangement, whereby Groat Bri« lain has agreed to postpone for a further year New Zealand’** payments under the Funded War Debt. Thi s announcement was made by hie Prime. Minister in hi l ? Budget speech in the House last evening. The n et doer ease in deV>t. ehar!ge« wilL lb £500.000.

“Following Mr Stewart’s personal representations in London in regard io our difficulties. Groat Britain ha* again /extended a helping hand by consenting to postpone for another year all payments due <>n mir Funded War Debt and certain other debts duo to the British Government.” Air Forbes said. “Th© additional relief to tins year’s Budget £825,000 .in addition to which a saving of £47,000 will accrue to the State Advances Office. Our'grateful thanks are due to the Mother Country for this substantial measure assistance during -the acute period of our trouble. ’ Apart from these postponements-, debt charges wonk' have shown an increase of £325,000 (Ihq to the last London loan and the extensive use of Treasury bills and other forms of borrowing to finance the remittances to London, last vivir deficit, etc. A.s it. *-*?, there is now an estimated net dr. re me rn ,], ,1 ( chargsc-p amounting l° £‘,00.000.