PUBLIC DEBT
REPAYMENT BILL INTRODUCED
(From Our Parliamentary Correspondent)
WELLINGTON, This Day
The Public Debt Repayment Bill which was introduced into the House two sessions ago but not gone on with, was again brought down by GovernorGeneral’s message. The Minister of Finance (Mr Noswortliv) said the measure was on the lines of the Commonwealh Sinking Funds Act. At 31st March last the total public debt amounted to £227,814,647. Out ot that, £29,800.000 was ordinary debt. £76,000,000 war debt, and £21.400.000 State Advances Account. The bill, be said, proposed to deal with £174,000,000. As regards sinking funds, it was proposed to liquidate £174,000,000 in 60 vears.
The Leader of the Opposition (Mr Willard) : "Is this a bill by which the Government can put its hands on the sinking funds of the country.”
The -Minister replied that it was not intended to collar the sinking funds. It would repeal portion of the 1910 Public. Debt Extinction Act.
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Bibliographic details
Nelson Evening Mail, Volume LVI, 17 July 1925, Page 4
Word Count
155PUBLIC DEBT Nelson Evening Mail, Volume LVI, 17 July 1925, Page 4
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