CITY FINANCES
EFFECT OF MORATORIUM. VIEWS OF SIR JOHN LiUKE. In the course of the deputation of members of Parliament and others to Ministers yesterday, with regard to pushing on with the new Technical College, Sir John Luke complained that the deposit moratorium legislation of last session had altered altogether the capacity of the City Council to carry on its finance. It had carried on its works for years past without an overdraft, through the deposit system it was privileged to adopt; and all the council had spent had not cost it more than 4 per cent. Sir Francia Bell: There is nothing in the Act to prevent yon carrying on the name thing now. We did not legislate in that direction at all. I wish we had.
Sir John Luke said that the legislation had resulted in the council getting no more deposits.
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Bibliographic details
New Zealand Times, Volume XLVII, Issue 10966, 30 July 1921, Page 7
Word Count
144CITY FINANCES New Zealand Times, Volume XLVII, Issue 10966, 30 July 1921, Page 7
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