N.Z. BANKS
STATEMENT BY MR NASH (United Press Association— By Electric Telegraph—Copy right). LONDON, IVky 18. The New Zealand Minister for finance and Marketing (Mr Walter Nash), in a long interview to the “Financial ' News,” denied that the New Zealand Government contemplated nationalising the trading hanks. ... Me, that the Government had deprived them of two-fifths cof their business through its marketing schemes", hut he said there were no signs that 'this had caused them unnecessary distress. The Government 'had no plans for extending its marketing schemes. There was no prospect of inflation, as more than half of the expenditure ori public works had been met from taxation, and the remainder from savings.
Mr Nash added that the. Budget would show a much larger surplus than was anticipated. Both income tax. and customs had yielded more than the estimates.
There was no . likelihood of inte: nal borrowing at present.
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Bibliographic details
Hokitika Guardian, 19 May 1937, Page 6
Word Count
148N.Z. BANKS Hokitika Guardian, 19 May 1937, Page 6
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