LOAN MONEY
AUTHORITY TO BORROW £8.000.000 PUBLIC WORKS AND HIGHWAYS STATEMENT BY MINISTER (From Our Parliamentary Reporter) WELLINGTON, Nov. 19. The Government has no immediate intention of raising £8,000,000 of loan money for public works and highways under the power to be conferred on it by the Finance Bill, which was introduced in the House of Representatives this week. This was made clear by the Minister of Finance (Mr W. Nash) in an interview this evening. “The authority is being taken in case it is needed,” said Mr Nash. “We may not liave another opportunity f putting the matter before Parliament, but the money may be required. I cannot state the exact procedure which will be followed in obtaining he loan money.if the necessity arises. We will be empowered to raise up to £6,000.000 for public works and up to £2,000.000 for main highways, and if we have to use that authority we will use it in the best possible manner One thing, however, is certain. It will not be necessary for us to go outside New Zealand for the money.
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Bibliographic details
Otago Daily Times, Issue 23354, 20 November 1937, Page 14
Word Count
181LOAN MONEY Otago Daily Times, Issue 23354, 20 November 1937, Page 14
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