VALUATION OF LAND

Evening Post, Volume CXVI, Issue 23, 27 July 1933, Page 13

VALUATION OF LAND

MINISTER'S OPINIONS

PRODUCTION PROBLEMS

In making the announcement yesterday that tho Government intended to amend sections 45 and 50 of the Valuation of Land Act, the Minister of Lands (the' Hon. E. A. Bansom) said that the sections were not operating fairly as far as the general taxpayer was concerned. Many were, taking unfair advantage of the clause which allowed an owner to sell his property to tho Government* at -the Government valuation or to have the valuation fixed at his own estimate.

Mr. Bansom said that ho had been approached by local bodies who desired a revaluation of their districts. Some contended that a revaluation of rural lands would be the salvation of the farmer. Mr. Bansom said that if ho thought a revaluation would put tho farmer on a sound footing it would not take him long to preparo legislation. But if values were reduced, say, 20 or 25 per cent., county councils would immediately strike a higher rate to carry on their affairs, and the ratepayer would be no better off on the lower revaluation.

Beferring to the position of Crown tenants, he said ho did not hold the opinion that the Crown should take preference. "The proceeds should be distributed pro rata among tho various interests. . But ho could not agree that tho Government should bo responsible for payments, as it would mean that the amount would have to be taken out of the Consolidated Account, and that would niean extra taxation in some other direction. ' .

Beferring to primary production, Mr. Bansom said he felt that the problem of over-production would prove to be under-consumption, and that it would be largely solved. Even if it was found that the country was producing in excess of present requirements in regard to tho British market, other markets had to bo sought and products put to other uses. "We are suffering from reduced expenditure, V he said. While it was wise to reduce expenditure, every attempt at such reduction. carried in its wake some distress and trouble. Any further extension of the reduction of public expenditure must necessarily carry in its train reduced spending power. "We require more money to go into circulation rather than the withdrawal of capital from cireula:tion,',' he said. "Thero is every indication of an improvement in world affairs, .and as far as the Dominion is concerned, I am convinced.that wo are on the- eve of an advancement."