FINANCE FOR HOMES

Press, Volume XCVI, Issue 28435, 15 November 1957, Page 16

FINANCE FOR HOMES

Labour’s Scheme Explained

(New Zealand Press Association) ROTORUA. November 14.

When he explained the Labour Party s proposal to advance the child allowance of 15s a week up to £5OO for the first child and another £5OO for the second child to buy a section or build a house, the Leader of the Opposition (Mr Nash) told a Rotorua audience last night that it must be a jointly-owned home or in the name of the mother. The scheme was essentially for the benefit of the child, he said, and the money would be available at a low rate of interest.

If a child remained at school till the age of 18. the benefit would also be available for the years 16 to 18.

would also be available for the years 16 to 18. If the family decided to sell the home, it could not dispose of the benefit and the transfer would be made back to the State. From then on, weekly benefit would be payable.

Mr Nash said a Labour government would also consider the incTision of adopted children in the scheme.

On housing policy generally. Mr Nash said that for those who wished to own their homes, a Labour government would sell serviced section. It would build an 1 sell at cost and lend money at 3 per cent, to enable people to buy homes. Labour would also find all the money for churches and chaiitable organisations to establish communities for old people but the organisations would have to provide the furniture.