N.Z. OVERSEAS DEBT
REFERENCE BY MR. NASH. “We owe £156,000,000 in London,” said the Minister for Finance, • Mr; Nash, at Auckland. “Are we for ever to go on building up that debt? If we want to get rid of that incubus we must pay it off. There is no other way.” “He did not think it could be done just now, but he thought there should be worked out an overseas debt reduction fund, .so .that year after year some of. this mbney might be paid off. Even if it was not practicable to pay off £3,500,000 a year there were still terms in the present loan which allowed New Zealand to pay it off, provided money could be raised. Regarding the £5,000,000 Government creau, Mr. Nash said it was really in the form of an overdraft. A fair amount would be spent this year, mainly in buying aeroplanes and other equipment of that sort in Canada,
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Grey River Argus, 5 September 1939, Page 3
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157N.Z. OVERSEAS DEBT Grey River Argus, 5 September 1939, Page 3
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