MINISTER'S MISSION TO LONDON

Nelson Evening Mail, Volume LXXIII, 30 June 1939, Page 5

MINISTER'S MISSION TO LONDON

! THIRTY-TIIREE MILLION LOAN MENTIONED | STATEMENT IN PARLIAMENT

WELLINGTON. This Day. Information concerning the visit of the Minister of Finance (the Hon. W. Nt.sh) to London was sought by Opposition members in the House of Represen-

| latives yesterday afternoon. The Rt. Hon. J. G. Coates (National, Kaipara) I gave notice to ask the Acting-Leader of j the House (the Hon. P. Fraser) whether the Government would take the House | and the country into its confidence and [make a statement concerning Mr Nash’s 1 mission to London as far as loan proposals were concerned. An urgent question followed from the l eader of the Opposition, the Hon. A. Hamilton, who asked whether the i r.wspaper report published that day

that Mr Nash wanted to raise £33.000,000 sterling in London was correct. "Has the Minister of Finance been | authorised by the New Zealand Gov- | eminent to raise £33,000.000 sterling in j London—that is. presumably. £17,000.- | CGf for ihe renewal of the loan and i £ 16.000.000 of new money?” asked Mr Hamilton. ! Replying to Mr Hamilton, Mr Fraser said that the Government had no knowledge of the newspaper statement in question. The primary objective of Mr Nash’s visit to Great Britain was to

prepare the way for the conversion of tlie £17,300.000 loan which fell due for repayment next Januaiy. Mr Nash was also taking the opportunity to discuss matters of defence and trade, , both of which involved questions of , finance. "Special authority of Parliu- i ment would, in fact, be necessary be- j ; lore new moneys to the extent of any- j. thing like £16.000.000 could be rais- I 1 cd." Mr Fraser added. 1 1