LAND SALES BILL

Press, Volume LXXIX, Issue 24022, 10 August 1943, Page 4

LAND SALES BILL

TERMS OPPOSED BY SHEEPOWNERS GOVERNMENT PROPOSALS CRITICISED The opinion that the Servicemen’s Settlement and Land Sales Bill has been framed with a total disregard of the facts to be faced in administration is expressed in a statement issued by the executive of the New Zealand Sheepowners’ Federation. The executive is strongly opposed to the bill as drafted, although it supports the principle of providing for a sound basis of settlement of those returned soldiers wishing to take up land. ‘‘The bill if made law in its present form,” says the executive’s statement, “will make it possible for a tribunal with Gestapo powers of investigation and decision, to assess the sale value of the property of one section of the community only, while leaving owners of other forms of property free to dispose of their businesses or other assets exempt from similar restrictions. “The bill professedly aims at providing means for the settlement of returned men on the land under fair and equitable conditions, and on terms which will give them a reasonable prospect of success. This policy is endorsed by the executive as it should be by all sections of the community, even although this may mean an increase in costs all round. Nationalisation Policy “But the bill as drafted, goes much further than this. It provides for virtual nationalisation of all landed property, both urban and farming, not only for soldier settlement, but for any purpose. It would appear that the public sentiment wit) regard to the need to provide for the successful settlement of our returned men is being used to promote the Government’s policy of nationalisation of all land, and is aimed at extending the principle of Government fixation of price, not only of the products from the land, but also of the land itself. “The clauses in the bill dealing with the fixation of basic values, basic rents, and productive values, can have *no other than a speculative foundation, there being no sound basis for calculation under to-day’s conditions. This is admitted by the Government departments concerned, and is indicated by Parliament’s approval of the policy of extension of Crown leases falling due on the ground that there is no sound basis on which to fix future rentals under prevailing conditions. If this is admitted by the Lands Department in connexion with the fixation of Crown lease rentals, the same argument must apply equally with regard to valuations of landed property of all kinds, either for sale or lease. Soldier Settlers "The effect of the proposals in the bill on returned soldier settlers from the 1914-18 war would appear to justify the closest attention of the Returned Services’ Associations in the interests of these men. There is a possibility that the proposals in the bill may have the effect of creating doubt in the minds of returned men as to the stability of the terms under which they are at present holding their properties, and this doubt may possibly be raised in the minds of many others still to return. It would be most unfortunate if this should happen, as it might seriously prejudice the success of the whole scheme of soldier settlement on the land. “A factor which may possibly seriously affect landholders under the proposals suggested in the bill is that of the possible effect on farm mortgages and on the inflow of capital for investment on broad acres previously considered by great numbers of people as being the soundest form of investment. Should finance for this purpose be seriously disturbed, the repercussions on property holders and financial institutions also, may prove serious indeed, with a possibility that the whole financial system covering not only farm properties but all other forms of landed property, may be disorganised with detrimental results to all concerned.”