THE MORATORIUM.
HARDSHIPS CAUSED TO FARMERS
(By Telegraph. Press Association.) WELLINGTON, This Day.
The Dairy Farmers’ Union has represented to the Premier that serious hardship is being dau.sed to dairy farmers through the Mortgages and Deposits Extension Act 'causing automatic increase in interest.
:Mr Wilford, in bringing the matter before the House in the form of a. question, desired to know»if the Government proposes to legislate to grant relief to these-' mortgagors on account of mortgages falling due, and because so much money had been put into debentures where the rate of taxation is only 2s 6d in the £. Mr Wilford pointed out that the bank rate on overdrafts was 7 per cent., in some cases 8, but bank shareholders’ dividends continued to be high. Mr Massey suggested that the last statement was in opposition to a.ny reduction of company taxation. The question raised was under the Government’s consideration, and he ex-, pected to ibe able to make a statement shortly when the matter had been fully considered.
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Bibliographic details
Waipa Post, Volume XXI, Issue 1280, 12 August 1922, Page 4
Word Count
168THE MORATORIUM. Waipa Post, Volume XXI, Issue 1280, 12 August 1922, Page 4
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