POLITICAL NOTES.

Press, Volume LXVI, Issue 13884, 8 November 1910, Page 7

POLITICAL NOTES.

I _. — 0 — i (srr.c-Ai* to "toe peeks.") WELLINGTON, November 7. PUBLIC WORKS STATEMENT. Tlio Prime Minister the other day stated it was probable the Public Works Statement would be brought down to-morrow (Tuesday). I understand, however, the Statement is now not likely to be bought down betore Friday next. In that case, if all goes well, the session should end on or about Saturday week. | OLD AGE PEN-SIONS. An amendment to the Old Ag© Pensions Act was introduced to-night by Governor's message. It deals chieily with the asaessmeiit of tlio value- ot accumulated property. It provides that for tho purposes of the principal Act, all real and personal property owned by any person shall to the extent of "his beneficial interest therein be deemed to be his accumulated pro-*----perty, except that his interest in any life "assurance policy or in any annuity purchased from a life assurance company shall not be deemed to be accumulated prooerty. There shall be deducted (a) from tho capital value of his interest in any property upon which he permanently resides," including any furniture and other personal effects belonging to_ him and in his possession, the sum of £340; and (b. from the value of his interest iv any other property the sum of .350, anrl tho residue shall bo deemed to bo the not capital value of all his accumulated property. In the case of joint ownership by husband and wife of property on which they permanently reside, including furniture and other personal effects, no greater deduction shall be allowed than i; 310. This section is to come into operation on January Ist, 1911, and , shall apply to all pensions, whether granted before or after the passing of the Act. NEW ZEALAND DOANS ACT. An amendment has been introduced to the New Zealand Loans Act, providing that every debenture and every j stock certificate issued under the prin- j oipal Act in respect of an . v l° nn to I which the Public Debt Extinc- j tion Act, 1910, applies, shall J have tiu-rcon a statement that I a sinking fund is established. I This Miction applies to nil debentures 1 and stock certificates issued in respect. I of loans raised under the principal Act after tho coming into operation of tho j Public Debt Extinction Act, and to j conversion of all loans to which that Act applien. !