Fishing Board Finance

Press, Volume CIV, Issue 30827, 12 August 1965, Page 3

Fishing Board Finance

fNew Zealand Press Association)

WELLINGTON, August 11.

Up to March 31 of this year, the Fishing Industry Board was granted an amount little short of £35,000 by the Government. This amount included the cost of administration, said the Minister of Marine (Mr Scott) today.

“Not Id of the [ board's levy money ; has been used for this ; purpose,” the Minister [ said. “The question of further fin-: ancial assistance to the board is being explored at present, and 1 am now waiting for detailed information as to requirements from the general

manager of the board (Mr J.| S. Campbell),” said the Minis-[ ter. Taxation incentives were among items already granted to the industry. Mr Scott said the incentives for growth in exports announced in the 1964 Budget were applied to the fishing industry on June 10 this year. [ “In this year’s Budget to [provide for further incentive for expansion of the fishing I industry, the 10 per cent in- ( [vestment allowance was exten-[ :ded to plant and machinery | used in catching fish for sale.” [the Minister said. This provision included fish-; [ing vessels, cost of conver[sion and structural changes. [Exemptions were to apply I from April 1, 1964. The matter of customs dutyon fishing equipment from i Norway or any other country was a function for the board under the Fishing Industry: Board Act. “This is a matter on which;: [I have been waiting for Mr ■Campbell and the board to [ make recommendations, al- [ [ though British preferential j tariffs do come into this argu-| ment,” said Mr Scott. An inter-departmental com-[ mittee, of which Mr Campbell I was a member, had been look-; ing into various aspects to further development of the industry, Mr Scott said. The[ [provision of loan finance for, [fishing boats, etc., had been! one of the many aspects to‘ ! which they had given consider-! [ ation.

“The stage has now been reached where the committee’s recommendations will soon be considered by the Government,” the Minister said.