“HAS NO DIFFICULTY IN MEETING INTEREST.”

Star (Christchurch), Volume XLIV, Issue 185, 6 August 1931, Page 6

“HAS NO DIFFICULTY IN MEETING INTEREST.”

STATE INSURANCE IS FLOURISHING CONCERN. Per Press Association. WELLINGTON, August 6. The following statement has been made by Sir A. T. Ngata, Minister in charge of the Government Life Insurance Department:— “ My attention has just been drawn to a Press Association message, which credits me with having stated, in a discussion in the House on a report of the Government Life Insurance Commissioner, that the Department ‘ had difficulties in respect of meeting interest charges and such.* I have been misreported in this matter. What I intimatedwwain reply to a remark by the Leader of the Labour Party regarding some of the unemployed who had difficulty in paying their life insurance premiums—that the Department had its own difficultfes, and found trouble in collecting its interest charges. To say that such a flourishing institution as the Government Life Insurance Department had difficulty in meeting interest charges is absurd in the extreme, particularly as it has no such charges to meet. I think it necessary to clarify the position, as there are opponents of the office ever ready' to seize upon anything which they consider will in any way retard the great nropress which it is undoubtedly making.’*