LOCAL BODY LOANS

Waikato Argus, Volume XXXVI, Issue 5727, 2 October 1914, Page 2

LOCAL BODY LOANS

—„— EXPLANATION BY THE MINI STEK OF FINANCE.

By Telegraph. —Press Associatioi Wellington, Thursday.

The member for Auckland East (Mr Myers) asked the Minister for Finance in the House of Representatives today whether the Government, having asked local bodies to posipone wherever possible the commencement of new works, even in cases where bans from the State Advances Office have been approved., would take into consideration the necessity of making some provision, say in the direction of authorising a temporary increase in the statutory limit of the bank overdraft of local bodies.

Mr Allen replied that local bodies were asked to postpone expenditure on works only in cases where they could without much inconvenience do so, and wheie the postponement would not create unemployment. The State Advances Department was prepared to meet all its commitments, but it would be a convenience under existing circumstances if expenditure could be delayed. He did not at present see any need to increase the statutory limit of the overdraft, but should the need arise later on action would be taken.