Rates must fall— Socred

Press, 13 November 1981, Page 1

Rates must fall— Socred

PA Feilding Social Credit's leader (Mr Beetham) last evening outlined his plan to reduce rales demanded by local bodies, saying there would be a rates revolution if they were not brought down. Mr Beetham told some 200 people at Feilding that the "rates rebellion” would come within five or six years. Making his main speech to the people of Rangitikei as their candidate for this month's General Election, Mr Beetham said the Government had to make lowerinterest loans available to local bodies for essential works. If it did not, .the resulting rates “explosion” would cause young families and older citizens to be rated out of their properties as local authorities increased rates to meet their outgoings. “Alreaady, in a growing number of cases, local authorities are deferring payments of rates against the estates of senior citizens, as they are unable to pay,” Mr Beetham, detailing Socred policy, said that Parliament should make automatic permanent grants to local and regional authorities to help bring rates down. This money would be distributed by the Inland Reveue Department on a pro rata basis, without instructions on how money should be spent. The Reserve Bank would, according to the policy, provide interest-free loans to councils with an administrative charge of not more than 1 per cent to allow them to undertake capital works in public health projects. “In certain circumstances, debt-free grants will be made to establish or enhance basic amenities such as water supply, drainage, and sewarage systems,” Mr Beetham said. Much of the rates burden was caused by high interest rates and these would be progressively reduced by Socred’s monetary policy.