STATE ADVANCES LOANS
NO REDUCTION IN INTEREST. (By Telegraph. - Press Association.) WELLINGTON, Wednesday. “The rate of interest on advances charged to borrowers under the State Advances Act is in no way contingent on the rate charged by the banks, and having regard to the rate of interest at which the State advances loans have been raised, it is not possible without loss to reduce the interest rate on State advances loans.” said the Minister of Finance, Hon. W. Downie Stewart, in the House in replv to a question by Mr R. McKeen (Wellington South). Mr McKeen had asked whether, in dew of the recent announcement of a reduction in the bank rates by 2 per cent the Minister would take immediate steps to reduce interest charges on State advances loans to settlers and workers by a similar amount.
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Bibliographic details
Waipa Post, Volume 37, Issue 2188, 26 July 1928, Page 4
Word Count
138STATE ADVANCES LOANS Waipa Post, Volume 37, Issue 2188, 26 July 1928, Page 4
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