WHY BANK CHARGES WERE INCREASED.
PRIME MINISTER DOES NOT AGREE WITH ACTION An explanation of the recent increase made by the Associated Banks in the charges for keeping clients* accounts was received at to-day's meeting of the North Canterbury Executive of the Farmers’ Union. The Dominion secretary wrote stating that he had received the following letter from the Prime Minister (the Rt Hon G. W. Forbes) I find that the reasons given for the increase was to offset the additional amount of note tax, which was increased from 3 per cent to 4J. per cent per annum. It is understood in this connection that the banks do not propose to pass on the additional income tax imposed. Taking these facts into consideration, however. I agree that the banks might well have refrained from increasing the charge for keeping clients’ accounts, especially at the present. time, but as has already been stated, the matter is one for discussion between the banks and their clients, and it is accordingly suggested that the Farmers’ Union take up the matter direct with the banks concerned.” The letter was received.
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Bibliographic details
Star (Christchurch), Volume XLIV, Issue 72, 25 March 1931, Page 7
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185WHY BANK CHARGES WERE INCREASED. Star (Christchurch), Volume XLIV, Issue 72, 25 March 1931, Page 7
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