REVENUE RESERVE
ADDITIONAL SDMS INVESTED. , I announced in lost year’s Budget that the special reserve established In London from surplus revenue for the purpose of meeting possible demands arising out of the war hud, in addition to the reserve fund of X'Boo,ooo. been increased by X 3.917.731. The question of the disposal of this reserve will be dealt with after the' conclusion of peace, hut I must remind honourable' members .that it Is probable that when business again returns to its normal condition these .will ill the natural course of events be considerable withdrawals from the Post Office Savings Bank, and it is advisable that the Treasury should be in a position to meet the requirements of the poet office should it .be necessary. I am pleased to be able to inform the House that during the financial year 1917-18 additional sums were invested, making a total at. March 31et, 1918, of ,£9,570,380, inclusive of the XBOO.OOO above referred to.
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Bibliographic details
New Zealand Times, Volume XLIII, Issue 10137, 27 November 1918, Page 7
Word Count
160REVENUE RESERVE New Zealand Times, Volume XLIII, Issue 10137, 27 November 1918, Page 7
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