NO CHANGE IN RATE
DENIAL OF EXCHANGE RUMOUR. POSSIBILITY OF TAX REDUCTION. By Telegraph—Press Association. Wellington, Aug. 19. Replying to a question, the Rt. Hon. G. W. Forbes gave an unqualified denial to the suggestion that an understanding that the exchange rate would be reduced gradually had been responsible in part for the successful result of the meat negotiations. Practically every country had been forced to, adopt Some form of currency control, and admiration had been expressed in England for the manner in which New Zealand had faced its difficulties.
Mr. Forbes said the Government hoped when the full information was available to do something to reduce taxation. Mr. J. G. Coates, Minister of Finance, when interviewed, said that the Budget proposals would be completed ■when he had an opportunity of examining the financial position. He was unable to • say at the moment whether it would be possible to relieve taxpayers or restore any further public service cuts, although the Government was hopeful that it would be possible shortly. He would be able to announce soon the result of the variout trade negotiations he had undertaken.
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Bibliographic details
Taranaki Daily News, 20 August 1935, Page 7
Word Count
186NO CHANGE IN RATE Taranaki Daily News, 20 August 1935, Page 7
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