HOUSING POLICY

Press, Volume CVI, Issue 31222, 21 November 1966, Page 10

HOUSING POLICY

—S. A. Whitehead (Labour)

One of the features of Labour’s housing policy is that it has special significance for Nelson and it will be of great benefit to the young people who wish to build in the district and to the many workers engaged in the timber industry.

There is no doubt that the practical measures, in the policy will assist young couples to finance homes. When it is realised that a person getting a £2500 loan at 3 per cent on a 30-year term, as against one at 5 J per cent for the same amount and term, saves £1324 the difference between the policies of the two main parties is highlighted. The National Party has consistently encouraged higher interest rates.

The introduction of an intermediate salary bar for 4 per cent loans for those earning under £1250 will also be of great benefit to many home-seekers.

Removal of the arbitrary loan limits is designed particularly to give assistance to those people who have entered trade training or taken higher education and consequently not had the same opportunity to save. A vigorous housing policy is going to create a greater demand for timber products, and that is important to the Nelson district. Manufacturing Another important feature of Labour’s policy for Nelson is that relating to decentralisation of industry. There is a great potential for development. The finance that will be available from the strengthened Industrial Development Finance Corporation, plus the rebate of up to 50 per cent on freight rates could be the incentives necessary to attract a great deal of industry. We must have a more realistic approach to our manufacturing industries. We cannot expect to compete in other countries if we persist in using much of the capital equipment for only eight hours a day five days a week. I do not suggest that workers should have to work outside the ordinary hours for the same rates of pay, but I would think the greater utilisation of the machines for the same capital outlay should enable the employers to share the extra profits with the labour force.