EIRE LIVING BEYOND MEANS.
RESTRICTED BORROWING URGED. DUBLIN, Aug. 8. Financial measures establishing control of public finance akin to Australian practice are recommended in the majority report of the Bank Comnjission, which was established in 1934. The report declares that that Eire is spending beyond her income and warns the Government against further increases in the oustanding debt. It recommends that the Irish and English pounds should be maintained at the existing parity; that the existing Currency Commission should become the central banking authority; that there should bo no increase in the existing deadweight debt, which should be reduced as soon as possible, while borrowing should bo limited to £'S,OOO,IKK); that borrowing by local bodies should be strictly controlled; that Government borrowing proposals should be closely examined for possible monetary and financial reactions; and that there should be regular consultations between the Government and the monetary on- the currency of tai* Government’s policy.
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Bibliographic details
Manawatu Standard, Volume LVIII, Issue 228, 25 August 1938, Page 17
Word Count
153EIRE LIVING BEYOND MEANS. Manawatu Standard, Volume LVIII, Issue 228, 25 August 1938, Page 17
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