BRITISH DEBT REPAYMENT
REDEMPTION OF £73,000,000.
By Telegraph—Press Assn. —Copyright.
London, January 15.
The Treasury to-day repaid £75,000,000 in 4 per cent, war loan, income tax compounded. Though the Government was not compelled to repay before 1942 its action is apparently due to the increase in the income tax to 4s. 6d. Financial circles express the opinion that Mr. Snowden’s decision to redeem indicates that he does riot expect an early reduction in the income tax. This £75,000,000 has been replaced by Treasury bonds, and it is estimated that it will result in a saving of £700,000 a year.
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Taranaki Daily News, 17 January 1931, Page 7
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99BRITISH DEBT REPAYMENT Taranaki Daily News, 17 January 1931, Page 7
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