PUBLIC WORKS
GOVERNMENT FINANCE CAREFUL USE OF CREDIT PREMIER' EXPLAINS (Parliamentary Reporter.) WELLINGTON, this day. Asked if the Government intended to finance its policy by Treasury bills or on its own credits, the Prime Minister, the Hon. M. J. Savage, stated to-day that in the, first place the cost, of administration of public affairs would rest upon the revenues raised from various sources. The carrying out of public works, the completion of railways, ami the building of houses would be provided for by the use of public credit. "We contend." he said, "that you cannot expect people to be carrying outworks of major importance and national public works from any form of taxation. Financing the administration and the financing of capital expenditure are two different things. We have a country here in the making and the time nc doubt will come when what I am saying will not apply, but there is considerable development, to be carried on. The carrying out of major public, works does not necessarily mean borrowing. It sjjjnply. means a careful, intelligent use of public credit."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PBH19360328.2.125
Bibliographic details
Poverty Bay Herald, Volume LXIII, Issue 18976, 28 March 1936, Page 15
Word Count
180PUBLIC WORKS Poverty Bay Herald, Volume LXIII, Issue 18976, 28 March 1936, Page 15
Using This Item
The Gisborne Herald Company is the copyright owner for the Poverty Bay Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in