Britain’s Financial Aid to Dominion
Per Press Association. WELLINGTON, Feb. 26. The Acting-Minister of Finance (Mr. Fraser), in an interview, stated that his attention had been drawn to & statement in the Press regarding the financial aid which New Zealand received from the United Kingdom Government towards overseas war costs. Mr. Fraser said the total value of the assistance quoted by a correspondent was £66,318,000, whereas in fact the total advances to December 31 last were £20,220,6§9. By arrangement with the United Kingdom Government shortly after the outbreak of the war, that the Government agreed to finance on a loan basis New Zealand’s cost of maintenance of our division at present in the Middle East and our share of the cost of the Empire Air Training Scheme. In the terms of the undertaking that we would repay as much as possible from time to time a total of £11,412,677 sterling had been repaid, leaving a balance owing at December 31 of £8,808,012, and this was provided for. The arrangement did not apply to equipment or other supplies sent from the United Kingdom for use in New Zealand. Cash had been paid for Zuch items as and when supplies were shipped.
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Bibliographic details
Manawatu Times, Volume 68, Issue 49, 27 February 1943, Page 5
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199Britain’s Financial Aid to Dominion Manawatu Times, Volume 68, Issue 49, 27 February 1943, Page 5
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