IN PARLIAMENT

Feilding Star, Volume 8, Issue 2401, 10 April 1931, Page 6

IN PARLIAMENT

BUSINESS BEING DONE MEMBERS AT WORK CUM MITTEE OX EARTH Q U AKE BILL MORTGAGORS’ RELIEF TIIE MEASURE DISCUSSED (For Pres* As.-oi-int.ion) Wellington. April 9. In tlie House the business of the emergency session and the progress uiihiii the pas*; two days is in strong contrast to the waste of time during th » three weeks preceding the Easter vacation. If the present rate of progress is inaintainc I the sesison will end shortly after the en 1 of this month. Only tlie fringe of 'he Government’s economy proposals lias been touched, but the measures yet to be plated before the House are completely clear. SUGGESTI ON AU( EFT El > The most notable event to-day was the Prime Minister's derision to agree to a suggestion by. the Leader of the Opposition, Mr. Coates, that the Hawke's Bay Earthquake Bill should go to a Select Committee for full inquiry into the various issues raised in it and esjK'cially that relating to the tax of Is til per cent, on insurable property. Members from all sides of the House pressed the Prime Minister to agree 4.0 this course. DEBATE STOPS The debate on tlie second reading, which had occupied tin- afternoon, was cut short immediately after the tea adjournment when Mr. F'orlies announced that lie would send the Bill to a committee and that evidence from interested persons would be taken to-day. Interest) was arroused in bis statement that the insurable property tax would realise £328.000 a year, of which £318.000 would be derived from insured property and £20,000 from uninsured property. some .1 xFormatk>.\ P is estimated .that the London reserve fund will be reimbursed to the extent of the £1,000,000 to be drawn from it, within five or six years. Mr. Forbes also pointed out the desirability of maintaining a reserve fund in London, and he in imated that financiers were of opinion that th e existence of such a fund for use in time of extreme need would enhance the Dominion's credit. ueljf;f bill The spirit of helpfulness was extended in the main to the Mortgagor.*;’ Relief Bill, the second reading of which was moved by tlie Prime Minister as soon as it had been decided to pass the former measure on to a committee in the meantime. It appears to Ik* generally agreed that some form of relief is required for mortgagors, provided the rights of mortgagees can be safeguarded. The .Mortgagors Relief Bill aims to give mor'gagors tlie right to apply to tin* Court, to have sales under mortgages suspende 1 in case of hardship. It has so far met with some criticism and it is possibly that minor suggestion made by various ineinbe-s will Ik* embodied in aiiicndinen's at a later stage. The debate was still in progress at tlie midnight adjournment.