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“$800 Million Needed To Refinance N.Z.'s Buildings”

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Description: These images were taken for the May 14th, 1978, edition of the Tribune weekly newspaper, the first of which was published with the caption “Mr Fraser (centre), makes a point during his talk to Manawatu builders. At left is Mr H. J. Spackman, a Feilding builder. At right is Mr J. A. Walding, Labours candidate for Palmerston North.”

An excerpt from the article read: “About $800 million-worth of buildings will need to be refinanced in New Zealand in the next three to five years, Labour's spokesman on housing, Mr W. Fraser, said in Palmerston North. Mr Fraser was in the city to help the election campaigns of Labour's candidates for the Manawatu and city seats, respectively Mr T. de Cleene and Mr J. A. Walding. Mr Fraser spoke with representatives of the Master Builders Federation, and announced some of the housing policy that Labour would institute if it became the Government after the next general election. Mr Fraser said the financial market should be reorganised, 80 percent of a house mortgage should be available on first mortgage, state supplementary loans should be restored, capitalisation on the family benefit system improved and the "land bank" system should be extended and improved.”

These images form part of the Manawatū Evening Standard Negative Collection. Unfortunately, only negatives between April and December 1978 are held.