MILLIONS OF PROFIT.

Auckland Star, Volume LIX, Issue 198, 22 August 1928, Page 5

MILLIONS OF PROFIT.

HYDRO-ELECTRIC FUTURE. PRIME MINISTER'S ESTIMATES. (By Telegraph.—Parliamentary Reporter.) WELLINGTON, Tuesday. A promising outlook for hydro-electric finance was explained to Parliament tonight by the Prime Minister, who suggested that, as the Government's policy of public works was clearly defined and they stood by it. the critics when they endeavoured to condemn should provide a constructive programme ar- an alternative. Investments in Public Works were, to a great extent, paying their way. and he believed that the hydro-electric works would prove a great asset. "In the next 15 years, leaving our standard rates as they are, you will have eight or nine millions coming into tlie Treasury chest as net credits over and above interest and repayment purposes. (Hear, hear.) That is a shot in the future which I have worked out from various points.*' Mr. Raiisome: Will that permit ot any reduction to consumers? The Prime Minister replied that this was a matter for the Government to decide whether it would use it to pay interest 011 other debts, such as railways, roads, or whatever debt* faced the Finance Minister. It might be better policv to give the users of power cheaper rates, anil that was for the Go\ - eminent of the day to decide. His point was that Public' Works development must go on. and that it gave it?> leturn to the country.