MINISTER'S COMMENT

Evening Post, Issue 29, 4 February 1935, Page 10

MINISTER'S COMMENT

DECISIONS NOT YET MADE

On receipt of a copy of the findings of the committee, the Minister of Finance (the Rt. Hon. J. G. Coates) forwarded the following letter to the secretary of the Associated Chambers of Commerce.

"I have to acknowledge receipt of your-letter of January 31, forwarding copies of the statement on mortgage finance, which your committee proposes to publish. I would point out, however, that the discussions with your committee and with other committees and various interests in other centres were all held in camera as it was desired to have frank expressions of opinion and any constructive criticism which could be offered. Many conflicting opinions have been expressed and some helpful suggestions have been made, and until these have been fully considered a decision cannot be arrived at on a number of points in the scheme.

'■In these circumstances it should be realised that the discussions with your committee by no .means represent the last word on the subject, 4nd nothing should be included in the statement published.by you indicating that a decision has been made on any of the controversial points. In fact, a definite decision will not be reached until the draft legislation has been considered by the * Government and brought down in the House. :

"I would also like to point out that as a result of my discussions in the different centres I am satisfied that the views expressed in your draft statement are not generally endorsed by the various interests enumerated in the second paragraph. The chairman of the Associated Banks, for instance, has advised me that your committee does not represent the banks." -