RENT RESTRICTION LEGISLATION

Dominion, Volume 29, Issue 197, 18 May 1936, Page 8

RENT RESTRICTION LEGISLATION

“Fair and Reasonable” Level MORTGAGE CORPORATION TO BE RECONSTRUCTED Another busy period faces Parliament tbis week according to an outline of the legislative programme given by the Prime .Minister, Rt. Hon. M. JSavage, in an interview on Saturday evening at the conclusion of a Cabinet meeting. At. least two new measures dealing will) rents and mortgages are likely to be introduced, and the Government hopes to make substantial progress with measures already on the order paper. Midnight sittings will probably be the rule from next Thursday onward, and it is more than likely that the next week-end recess will be considerably curtailed. “Some days ago I asked the Attor-ney-General, Hon. 11. G. R. Mason, and others of our legal members, to prepare a Bill giving effect to the Government’s desire to restrict rents, to a fair and reasonable level,” Mi’. Savage said. “At a meeting of the Cabinet to-day, Mr. Mason reported that good progress has been made and we hope to have the final draft of the Bill before us on Monday. In that case it will be considered at a Government caucus on Tuesday morning and introduced in the House of Representatives that afternoon.” Control of Mortgages. The Minister of Finance, Hon. W. Nash, had also reported good progress in the training of the Bill to provide for complete Government control of the Mortgage Corporation, Mr. Savage continued. The object of the measure would be to reconstruct the corporation on the lines of the State Advances Department, with a co-ordination of all the State’s lending activities. Private shareholders in the corporation would be bought out by the Government, but they would be treated fairly and would lose nothing by the transaction.

Tbe Prime Minister added that it was not certain when the Bill would he ready for introduction. Its provisions would probably be explained at the Government Caucus on Tuesday, but a possible delay in printing might mean that it could not be introduced before Wednesday or Thursday. “The second mortgage Bill dealing with general readjustments on the basis of the guaranteed price for dairy products will not be ready for several days yet,” the Prime Minister said, “but we aim to have it introduced and passed before the coming recess.” Mr. Savage was asked whether, in view of the fact that the guaranteed price would not be definitely announced until August, the Bill might be framed in such a manner as to enable the Government to deal with mortgages by regulations. lie replied that ti considerable volume of field work would be necessary to enable mortgage readjustments to be carried out satisfactorily and the Bill would provide all the necessary machinery in that direction. It was hoped to be able to place sufficient valuers in the field to enable fresh valuations to be made so that readjustments in mortgages could operate concurrently with the payment of the guaranteed price. Transport Laws.

The second reading of the Transport Amendment Bill would be opened in the House of Representatives on Tuesday night, the Prime Minister continued. The Minister of Transport, Hon. R, Semple, would move the second reading in a speech of an hour’s duration and would be followed by a member of the Opposition, who would also speak for an hour. Two other speeches, each of half an hour’s duration, would be given on Tuesday night and all four would be broadcast. The debate would be continued on Wednesday night when six speeches, each of half an hour’s duration, would be put “over the air.” Consideration of the Factories Amendment Bill would be continued on Tuesday afternoon, Mr. Savage said, and it was hoped to have the committee stages and third reading completed early in the week.