Economic Council

Press, Volume CII, Issue 30153, 10 June 1963, Page 3

Economic Council

Sir, —A report informs us that Professor F. W. Holmes, of Victoria University, Wellington, is proceeding overseas on sabbatical leave. There is, of course, nothing unusual in that. Each year scores of New Zealand university personnel journey overseas on so-called refresher leave (sabbatical leave is apparently an additional perquisite) on full salary and travelling expenses, the taxpayer ultimately footing the bill. However, as it is election year, it is pertinent to ask the Minister of Finance: (1) Is Professor Holmes also being paid his salary of £3500 p.a. as chairman of the Economic Council during his 12 months’ absence abroad? (2) Why is it necessary to appoint yet another economist from the university to act on the council during Professor Holmes’s leave, considering the Economic Council already has on its staff at least two highly-paid economists? The whole set-up gives the appearance of downright extravagance and blatant em-pire-building.—Yours, etc., ANTI-HUMBUG.

June 4 1963. [The Minister of Finance (Mr H. R. Lake) said: “The remuneration received by Professor F. W. Holmes as chairman of the Monetary and Economic Council is at the rate of £750 per annum. The country and the government receive very good value for this salary. This remuneration ceases while Professor Holmes is on sabbatical leave There can be no suggestion of extravagance or empirebuilding in asking Mr L. V Castle, senior lecturer in economics at Victoria University Wellington, to serve on the council during Professor Holmes* leave”!