APPEAL FOR SUPPORT

Otago Daily Times, Issue 25849, 21 May 1945, Page 4

APPEAL FOR SUPPORT

"A SHEER NECESSITY"

“ The cost of the war to New Zealand so far is over £500,000,000. and there are only two commonsense ways in which we can meet this cost; that is, by taxation and by war loans,” said Mr W. F. L. Ward, governor of the Reserve Bank of New Zealand, in a broadcast address last night, in which he appealed for support fyr the Victory Loan. For war purposes alone the taxation collected since the war began amounted to £202,000,000. and to the end of March £239,000,000 was provided by war loans. When the first loan reached its target the total of war loans would be about £265,000,000. New Zealand’s expenditure for the armed forces for the year ended March 31, 1945, was about £133,000,000, and the approximate figure for 1945-46 would be about £100,000,000, Mr Ward said. There were accounts owing to the United Kingdom, New Zealand had undertaken to find £2,000,000 for food and clothing on account of U.N.R.RA. Moreover, the Dominion’s forces still had to be paid, no matter where they were, and the job of finishing the war in the Pacific was now paramount. In addition the urgent matter of rehabilitation had to be dealt with. Mr Ward appealed to all sections ol the community to do their utmost to ensure the success of the loan, whicn was a sheer necessity.