FAIR RENTS ACT

Dominion, Volume 33, Issue 2, 27 September 1939, Page 11

FAIR RENTS ACT

Applied To Shops And Flats

BILL INTRODUCED The operation of the Fair Rents Act is extended by another year to September 30, 1940, by the Fair Rents Amendment Bill, which was introduced by Governor-General’s Message in the House of Representatives last night. The Bill was read a second time pro forma and referred to the Statutes Revision Committee. Shops and flats are brought within the scope of the legislation. It will not apply, however, to flats let for the first time after the passing of the Bill, flats which have not been let since June 1, flats let at an annual rental of more than £156, or flats which have been let at more than that rental since June 1 last.

The rent at which shops or flats were let on June 1, or the nearest date before or after that date, is to be. the basic rent, and any increase made since August 1 is made ineffective, in spite of anything to the contrary in. any agreement. This docs not apply to premises for which a fair rent has been fixed in accordance with the principal Act.

The principal Act is amended to include in the grounds for recovery of possession the condition that the premises are reasonably required by the landlord for demolition or reconstruction.

The Bill also gives power to make regulations controlling charges for residential accommodation.

The House adjourned at 10.20 p.m.

WAR EXPENSES

Establishment Of Special

Account

USE OF RESERVE BANK

The main provisions of the War Expenses Bill were explained by the Minister of Finance, Mr. W. Nash, when the measure was introduced in the House of Representatives last night. The establishment of the War Expenses Account was provided for in the Bill, Mr. Nash said. A clause stipulated that there should be paid into the account all the extra revenue derived from the increase in the income tax, extra death duties, extra customs duties, the appropriation for the navy, army and air force departments, and surplus revenue from the Consolidated Fund, as the Minister might direct, as well as all moneys which might be appropriated later. The Government was also empowered to borrow £10,000,000, he continued. This included any money that might be borrowed from the Reserve Bank, as such transactions were to be treated as borrowings. “Another clause provides that if we want money.from overseas we may borrow from the United Kingdom outside the normal securities, as the United Kingdom loaned New Zealand about: £25,000,000 between 1914 and 1918,” the Minister said.

He explained, in reply 'to an interjection, that the rise of 15 per cent, in income tax was on the tax phyable.

The death duties in New Zealand were not - onerous, Mr. Nash continued. An Opposition member: Won’t this rise bring them to about 50 per cent?

Mr. Nash: No. I think, a fraction under 20 per cent.

N.Z. FORCES OVERSEAS

Financial Arrangements An inquiry whether in view of the condition of New Zealand overseas exchange balances, the Minister of Finance, Mr. Nash, would endeavour to ararnge with the British Government to meet the expenses of any New Zealand forces sent overseas, was contained in a question of which Mr. Carr (Government, Timaru) gave notice in the House of Representatives yesterday. Mr. Carr intends to ask whether the course lie outlined could be followed, ns was done in the case of New Zealand reinforcements in the South African War, particularly in regard to pay, munitions, hospital, and if necessary funeral expenses. In a note to his question he said that during the Great War these charges were met by New Zealand with the result that notwithstanding huge Imperial profits on the sale of our meat, ivool and butter, a war debt of £7,000,000 ■ to £8,000,000 was incurred by New Zealand, and 20 J-ears later difficult negotiations became necessary between the present Minister of Finance and the city of London, regarding repayment of the debt.