HOUSING POLICY

Press, Volume C, Issue 29535, 9 June 1961, Page 12

HOUSING POLICY

“Too Much Spent”

(N.Z. Press Association) WANGANUI June 8. ’’Although the Government’s ‘prime object' was to get m many New Zealander* aa ponibte to own their own heme*, the fact remained that too much Government money was being required for housing, and it was at present in the process of formulating a policy to make it mere attractive for people to buy established hemes, said the Minister of Finance (Mr Lake). He was opening the Western Building Society’s new building. Building societies were playing an important part in the country’s economy. Almost 41.000 loans had been made by building societies in New Zealand for home-build-ing. He congratulated the society for its part in Inculcating the value of saving amongst the community. Inthe past there had not been sufficient recognition of the virtue of saving, especially among the younger section of the working community. “If I can encourage enough people to save, and induce savings organisations to loan some of this money to the Government, there is a fair chance that we can maintain expenditure and at the same time reduce taxation, the Minister said. Mentioning that there was a disturbing number of unoccupied houses springing up throughout the country, especially in the rural areas. Mr Lake said there was a danger of over-building. He had found in the short time he had been in office that there were many people who knew ways and means of spending Government money, but very few who could suggest how to conserve and provide more money. Government expenditure. he said, was mounting at “a very considerable rate.”