INTEREST RATES
further evidence of LOWER TREND. The most recent evidence of the prevailing trend in interest rates is provided by the reduction of £ per cent, to 2£ per cent, in the interest paid by the Government on income-tax certificates issued as a means of paying tax in advance. Idle capital has probably found this another avenue of investment, and the Government considers it can obtain all its requirements at a lower rate. REQUEST FOR SUBSTANTIAL REDUCTION. GOVERNMENT IS CONSIDERING. A' resolution expressing the opinion that it was urgently necessary in the ’ national interests that interest rates be substantially' reduced to assist in the rehabilitation of the country, passed at the last meeting of the Dominion Executive of the Now Zealand Farmers’ Union, was replied to at Wednesday’s meeting of the.executive in. a letter received from the Minister of Finance, the Rt. Hon. J. G. Coates. ■. ■ ■ ■
The Minister said that the question was receiving the careful consideration of the Government.
A similar reply was given to a recommendation that the Government be urged to give immediate legislative effect to the proposals on rural financial ' adjustments submitted by Messrs. Poison and Waite t to the Minister of Justice on November 8,
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Bibliographic details
Gisborne Times, Volume LXXX, Issue 12244, 4 May 1934, Page 5
Word Count
200INTEREST RATES Gisborne Times, Volume LXXX, Issue 12244, 4 May 1934, Page 5
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