LOCAL BODY FINANCE
USE OF CREDIT BALANCES The possibility bf investing credit balances held by local bodies and using the interest to offset interest due to be paid by the local bodies was suggested by Mr. W. Machin at a meeting of tho lliccarton Borough Council. , Mr. Machin said the matter might bo carried far enough to include a national scheme. There was an enormous amount of money and credit held by loqal bodies for the greater part of the yeitr which carried no interest at all. , f
The Mayor, Mi*. H. S. S. Ivyle, M.P., said tho same state of affairs obtained with the Government. While some accounts were in cream otners were paying out on overdrafts.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18057, 6 April 1933, Page 6
Word Count
118LOCAL BODY FINANCE Poverty Bay Herald, Volume LX, Issue 18057, 6 April 1933, Page 6
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