Servicemen to get low-interest loans

Press, 14 June 1978, Page 3

Servicemen to get low-interest loans

PA Wellington Improvements in war jveterans’ allowances and deTails of new low-interest ; housing loans for present Servicemen were announced (by the Minister of Defence ((Mr McCready), when opening the annual Dominion Council meeting of the ReTurned Services’ Association. There would also be. — | An increase in the value

iof the motor-car grant for the “severely locurnotively (disabled” former serviceman I from $3OOO to $3500 a year (from January 1, 1979; An increase ■ in war bursaries for qualified dependent children of former servicemen from October 1, 1978, in line with increases in the consumers price index; and an increase in the grant towards the funeral expenses of former servicemen where the death was attributable to war service. This would go from $230 to $3OO from October I. ■ Mr McCready also announced: An extension of the time limit for Vietnam veterans to apply for rehabilitation assistance; An increas in the furniture loans under the rehabiliitation scheme from $4OO to $800; and Increases in grants for rehabilitation educational as-

1 sistance in line with in- s creases in the consumers r r price index. r Speaking about conditions f t of service for defence pert sonnel, Mr McCready said an < 1 election promise to introduce ; j low-interest housing' loans t - and interest-.' ee furniture v i loans was being imple-: - mented. He announced de- t . tails of new loan schemes t to come into effect on Sep-jr : tember 1. f

r The housing loan proV visions include an interest i rate of 5 per cent, rebated r to 3 per cent for the first five years. They will be - available to Regular Force - personnel with 12 years ser--1 vice. , Mr McCready said the des fence review was now be- - fore the Government. e “You will be satisfied when - the results of the review are a published in the next few - months that our forces will! s be well shaped to meet the 1 0 challenges of the next decade.” he told the R.S.A. - members. The Minister of Justice e (Mr Thomson) .speaking on s behalf of the Prime Minister, a said that failure by the international community to accommodate the needs and as- . pirations of poor States 0 might be a source of serious tension in the coming decade. :- “Relations between States :-iare likely increasingly to be

shaped by national requirements for energy, raw materials, technology, and foods,” he said. “Many, indeed most, countries are more severly affected by the unequal distribution of resources than we are. “It will clearly be essential that effective steps be taken to develop international machinery to enable progress to be made in

meeting the legitimate aspirations of Third World countries,” said Mr Thomson.