ASSEMBLY DATE FIXED

Press, Volume LXXI, Issue 21387, 1 February 1935, Page 10

ASSEMBLY DATE FIXED

♦— PARLIAMENT TO MEET ON FEBRUARY 13 important business to BE CONSIDERED NATIONAL MORTGAGE I'LAN The Prime Minister's announcement that Parliament is to reassemble on Wednesday, February 13, will arouse new interest in the Government's widely-advertised intention to establish a mortgage corporation and to reorganise mortgage finance generally on a national basis. The establishment of the national corporation will be the main business of the special session, which, in fact, was arranged to allow the Government to proceed with its rehabilitation plans and to put into effect as speedily as possible some of the main recommendations of the Dairy Industry Commission. Other legislation of less urgent nature will probably be dealt with concurrently with the mortgage bill, but it is not the intention of the Government to allow the session to drag on longer than Is necessary.

When Parliament adjourned in November last year the Government had completed only part of its effort to deal effectively with the growing problems of the primary producers. This delay was due principally to the lateness in presentation of the Dairy Commission's report, and to the very wide problems it opened up. One of the- commission's main recommendations—the establishment of an Executive Commission of Agriculture to co-ordin-ate the work of the various producers' boards—was acted on practically immediately in the Agriculture (Emergency Powers) Act, but the Government considered it inadvisable to proceed with the deeper problem of farmers' finance until the suggested remedy had been thoroughly and unhurriedly examined, and until the Minister for Finance (the Hon. J. G. Coates) and his advisers had had plenty of time to draft suitable legislation. An Autumn Session There was some demand from certain quarters for swift action and for immediate financial assistance for the farmers, but the decision to adjourn the session for three months aroused little real opposition from either side of the House of Representatives. Thus Parliament *'-as adjourned on November 10, the Prime Minister (the Rt. Hon. G. W. Forbes) announcing that members would be asked to reassemble in Wellington on February 13, "or earlier if it should be deemed advisable by the Government." Some members expressed the hope at the time that the autumn session would not be a long one and that the Government would have its business ready for specdv consideration and dispatch. Mr Forbes agreed with them that an autumn sitting was inconvenient, and he promised that there would be no waste of time. He .explained, however. that it would be undesirable to deal hurriedly with such farreaching proposals as the Government had in mind.

Mortgage Finance Throughout the three months' recess the Minister for Finance has been working on the preparation of his national mortgage corporation bill. He has travelled extensively and lie has given all interested parties full opportunity of examining his proposals and of expressing their views about them, personally and through correspondence. He has stated that the proposed mortgage institution "will undoubtedly be of great assistance in dealing with pesent mortgage difficulties" but, he has said, "it should be clearly understood that it is not being established for that purpose alone. In fact, it is intended to be a permanent part of the financial fabric of the Dominion, the primary object being to provide, on sound business lines, long-term mortgage finance as cheaply as possible." The mortgage bill is expected to be an extremely long and complicated measure, and its consideration by Parliament will, almost certainly, be somewhat protracted. There will be interesting debates and technical discussion, and the various stages of its progress will necessarily leave time for some of the other business the Government hopes to complete. The nature of most of this legislation has not yet been made public, but it is likely that there will be another agriculture bill designed to give effect to some of the less urgent and important recommendations of the commission. Native and Company Affairs Another bill which will arouse wide interest and which will probably be introduced during the special session will deal with the reorganisation of control in the Native Department. The Native Affairs Commission, which reported to Parliament late last year, revealed irregularities in the conduct of the department. The presentation of the report led directly to the resignation of the Native Minister (Sir Apirana Ngata) and the assumption of the office by the Prime Minister. Mr Forbes, who has recently spent some time investigating native land settlement schemes in the North Island, has indicated his intention of bringing down legislation dealing with his department's affairs, but the nature of its application has not been announced. There is some likelihood that the Government will take the first opportunity to proceed with the Companies (Bondholders Incorporation) Bill which was read a first time on the last day of last session. This bill was described as a measure to make provision for the incorporation of holders of bonds issued by certain afforestation and other companies, for facilitating the realisation of land or produce, affected by the bonds "and for matters incidental thereto." It was explained at the time by the Minister for Finance that the bill also applied to timber and flax companies, such as Timberlands and Perpetual Forests. Mr Coates hoped that those concerned would have the opportunity to examine the proposals thoroughly between November last and the reassembly this month.