PLAN TO SPEND WAR FUNDS OVER NEXT 42 YEARS

Gisborne Herald, Volume LXXV, Issue 22666, 17 June 1948, Page 6

PLAN TO SPEND WAR FUNDS OVER NEXT 42 YEARS

A national policy for the expenditure of the Dominion's patriotic and other welfare funds from the Second World War totalling £4.068,632 has been drawn up in draft form by the New Zealand

Patriotic Fund Board. It will be distributed to provincial patriotic councils and ex-servicemen's organisations for comment. The plan was placed before the Wellington Provincial Patriotic Fund Council. I* proposes that the total funds be expended in such a manner that they will be exhausted by the year 1990. It provides for the co-ordination of national and local expenditures so that the national funds are distributed through local channels, and proposes that to this end all welfare committees have direct representatives of service men’s organisations among their members. Rest and Holiday Camps The plan includes the establishment of national committees to consider the desirability ot setting up rest camps, holiday camps and bursaries for children. The New Zealand Patriotic Fund Board in a statement received by the Wellington Patriotic Council said the New Zealand Patriotic Fund- was the largest in the world or, a population basis and also the largest in the British Commonwealth on a money basis. The money handled during the war by the board and provincial councils was approximately £1 1,000,000, which was equivalent to £6 from every man, woman and child in the Dominion. The board and provincial patriotic councils were trustees for the unexpended balance. In the next five years the demands on the funds would not be very great, said the board, and provided no unfore seen demand was made, they might stand at £5,000.000 then. Expenditure £224,000 a Year Thereafter, the funds would require to be spent at the rate of £224,000 a year to exhaust them during the lifetime of those eligible to benefit. A sum of £596,608 was held for exservicemen of previous wars of which all but £220,000 was earmarked for special purposes. The funds in hand from the last war were made up as follows: —New Zealand Patriotic Fund Board £1,358,632, Canteen Fund Board, approximately £900,000, Middle East club funds £IBO,OOO, provincial patriotic councils £1,630,000; total £4,068, 632,

The possibility of a distribution by N.A.A.F.I. and special bequests under wills, etc., might increase the total cash holdings to at least £4,500,000.