AUCKLAND HARBOUR BRIDGE

Greymouth Evening Star, 9 December 1933, Page 2

AUCKLAND HARBOUR BRIDGE

UNEMPLOYMENT FUND SUBSIDY

[PER press association.]

AUCKLAND, December S. “The Treasury and Unemployment Board were satisfied that the con- . struction of the Auckland Harbour bridge should be treated as a truly national work and one which reasonably could be subsidised out of unemployment funds,” said Mr A. Harris, M.P., at the annual meting of the Auckland Harbour Bridge Company. He was not at liberty to say how great the .subsidy would be, but the Board had treated the work in a manner similar to the subsidised building scheme. “The Board, with the consent of the Minister of Finance, has agreed to’provide a straightout subsidy on the cost of labour on the bridge,” said Mr Harris. “In round figures between £lOO,OOO and £200,000 was made available in New Zealand toward financing the bridge, and of that sum about two-thirds is a straight-out cash gift, or subsidy from the Unemployment Board towards labour costs. It is estimated that the work will employ 400 men for not less than three years, and during that time the subsidy will be handed over.” He had with him a cablegram sent to the Prime Minister on November 24 by the New Zealand High Commissioner in London. It was a confidential document, but he could read the first sentence. It was: ‘Reputable underwriters here have definitely undertaken to provide finance for the construction of the harbour bridge.” Tho cablegram, said Mr Harris, went on to detail certain conditions. The report and balance-sheet were adopted, and a vote of confidence in the directors carried.