LOCAL BODIES' FINANCE.
LOANS AND OVERDRAFTS.
[nr telegram:— SPECIAL corkespojjdext.] Wellington-, Thursday. The member for Auckland East (Mr Myers) asked the Minister for Finance in the Hmiso of Representatives to-dav whether the Government, having asked local bodies to postpone wherever 08 . sible the commencement of new works even in cases where loans horn the Stated Advances Office have been approved, would take into consideration the necessity of making some provision, say in the direction of authorising a temporary increase in the. statutory limit of the 'bank overdraft of local bodies. Mr. Alien replied that local bodies wore, asked to postpone expenditure on works, only in cases where thev ■ could without much inconvenience do "so and where, the postponement would' not create unemployment. The State Advances Department was prepared *to meet all its commitments, but it would be a convenience under existing circumstances if expenditure could be. delayed, lie. did not at present see any need to increase the statutory limit of the overdraft, but should the need arise later en action would be taken.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19141002.2.61
Bibliographic details
New Zealand Herald, Volume LI, Issue 15729, 2 October 1914, Page 7
Word Count
174LOCAL BODIES' FINANCE. New Zealand Herald, Volume LI, Issue 15729, 2 October 1914, Page 7
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.