HOMES FOR THE WORKERS

Dominion, Volume 22, Issue 15, 12 October 1928, Page 10

HOMES FOR THE WORKERS

WHAT THE GOVERNMENT HAS DONE

A FIVE-YEARLY RECORD

OVER £10,000,000 PROVIDED How the Government has assisted the workers to obtain their own homes was referred to by the Minister of Lands (Hon. A. D. McLeod) in his election address at Upper Hutt last night. “Despite a certain amount of criticism from some of its rural supporters, the Reform Government decided in 1923, as a matter of policy, to introduce a system of making advances on the amortisation system up to 95 per cent, of the value for the purchase and erection of homes by workers,” the Minister said. It was the most liberal policy ever introduced into this or any other country, yet Mr. Holland still persists in his accusations of want of sympathy towards workers by the Reform Party. No finer ideal can be implanted in the hearts of young men and women than that of becoming the owners of their homes. In five years up to 1928 the Reform Government has provided for this purpose a total of no less than £10,621,000. In addition to this huge amount a further sum of £8,726,000 for the providing of houses on a similar basis for returned soldiers has been expended. This makes a total of £19,347,000, an amount unequalled in any other country in the world on a population

basis. “While we know well that there are many still waiting, all will agree in saying that there is a limit to which public credit can be used in borrowing, and this fact alone has been responsible for any easing up which has taken place during the last year. Rural Advances. “Mr. Holland, when pointing to a similar easing up in rural advances made through the State Advances Office, neglected to point out that largely as a result of Government assistance a branch of that office lending on rural securities through the longterm rural advances along last year authorised loans totalling no less than £1,146,000, which counteracts the decrease in the amount loaned under the State Advances Act as compared with 1927. At March 31 last, £751,900 of this amount had actually been paid over. Since the long-term Rural Advances A first functioned—on April 1, 1927 —until October 1, 1928, loans have been authorised and monetary provision made for a total of £2,015.805, while £1,294,985 has actually been paid over. The reason for authorisation being so much in excess of actual payments is that in the case of most rural mortgages three and six months’ notice must be given to terminate an existing mortgage and thus avoid the payment of a penalty by the mortgagor.”