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HELP FOR NEW ZEALAND PROPOSAL IN BRITAIN STERLING REQUIREMENTS (United Press Assn.—Elec. Tel. Copyright) (Received June 16, 11.35 a.m.; LONDON, June 15 The city editor of the Times draws attention to the possibility of the •British Government assisting New Zealand, and suggests that such help be in the form of export credit. It considers some assistance is desirable, but it is doubtful whether it is justifiable to give New Zealand sufficient assistance to sustain tlie Government's ambitious programme intact.
He adds that the present development of manufactures has been excessively rapid and lavish, and a reduction of tempo, combined with an adjustment of other matters in which the Dominion's economy is out of gear, might elTect substantial economy in New Zealand's sterling requirements without involving the New Zealand Prime Minister, Mr Savage, in the sacrifice ol' principle.
The Times considers that as things are going it is likely that there will be no sterling surplus available to meet the debt aerand there is scarcely any hope of New Zealand raising a large amount of new money on the London market.
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Bibliographic details
Waikato Times, Volume 124, Issue 20832, 16 June 1939, Page 7
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182EXPORT CREDIT Waikato Times, Volume 124, Issue 20832, 16 June 1939, Page 7
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