LOW INTEREST
NECESSARY TO PROSPERITY. BIG BANK DIVIDENDS \ NOT GOOD FOR. DOMINION. (By Telegraph.—Special to Star.) WELLINGTON, Nov. 5. “I am not a believer in big dividends and high overdraft rates,” remarked Mr. Wilford (Leader of the Opposition), in referring to the clause of the Finance Bill authorising the purchase of new shares in the Bank of New Zealand at a cost of £375,000. Mr. Wilford added that it might be a good thing for the Government, but it -was not to the benefit of the .people generally. To reduce the rate of overdraft and the rate of banking dividends was. in his opinion, the quickest way to restore prosperity to the Dominion. DRAINAGE BOARD RATES.
The member for Waikato, in a question to the Minister of Internal Affairs, asked the Government to consider during the recess a change in the system of rating by Drainage Boards, as under present conditions great injustice was done by imposing a rate on capital value, because it was the land which received the benefit from drainage and not the improvements. He suggested that power be given to enable a poll of ratepayers to be taken as to whether rating would be on capital or unimproved* value. Mr. Bollard undertook to look into the question in the recess.
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Bibliographic details
Hawera Star, Volume XLVIII, 6 November 1924, Page 5
Word Count
214LOW INTEREST Hawera Star, Volume XLVIII, 6 November 1924, Page 5
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