“MAY CAUSE STIR.”
Cabinet’s Decision on Interest Rates.
NO FINALITY YET. Per Press Association. WELLINGTON, March 31. Mr Forbes denied this morning that finality- had been reached by Cabinet on the question of an arbitrary ieduo> tion in interest rates and rents. lie said that it was a very complicated matter, and required exhaustive consideration of all the different aspects before any action was taken. “However,” added Mr Forbes, “by the time Cabinet has completed its consideration of the question of economies generally, I think we will have something to present that will create some little stir.” It is understood that a method of equitably readjusting interest and rent charges is exercising the minds of the Ministry more than the actual principle of arbitrary reduction, and that an endeavour is now being made to draft tentative legislative machinery to give effect to the idea, subject to approval by Cabinet. Mr Forbes declines to discuss the work that Cabinet is doing, on the ground that a general idea of the proposals to be carried out would be presented in the financial statement to be presented in the House of Representatives shortly'. (Other reference to interest rates appears on page 1.) *
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Bibliographic details
Star (Christchurch), Volume XLIV, Issue 386, 31 March 1932, Page 9
Word Count
199“MAY CAUSE STIR.” Star (Christchurch), Volume XLIV, Issue 386, 31 March 1932, Page 9
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