THE LEGISLATIVE COUNCIL

Hawke's Bay Tribune, Volume XXIII, Issue 72, 7 March 1933, Page 4

THE LEGISLATIVE COUNCIL

PASSING OF TWO BILLS

LOCAL BODY' CONVERSION

Wellington, March 6.

Sir James Allen, Sir T. K. Sidey, and the Hon. R. Masters were appointed by the Legislative Council to-day to confer with representatives of the Lower House on the disagreement concerning the amendments made by the Council in the Small Farms (Relief of Unemployment) Bill.

Moving the second reading of the Land and Income Tax Amendment Bill, the Hon. R. Masters said that the measure was designed to clear up anomalies in connection with direct taxation

In the committee stage, the Hon. W. W. Snodgrass asked whether war pensions were affected by the bill. Mr Masters said that, the bill simply classified pensions under earned income instead of unearned. War pensions were not affected.

The bill was put through all stages and passed. Moving the second reading of the Local Authorities Interest Reduction and Loans Conversion Bill, Mr Masters said that the bill was in keeping with the Government’s policy of reducing costs, and simply placed local body securities on the same footing as other fixed charges. Sir Francis Bell said that under the bill local bodies could conduct their own conversion, and they might endeavour to reduce interest more than 20 per cent.

Mr Masters said that the Local Government Loans Board had to give its assent to any conversion, and there was also the right of appeal to the Govemor-General-in-Council. These two safeguards should be a sufficient safeguard against the points raised by Sir Francis Bell.

The bill was put through all stages and passed without further debate, and the Council rose at 4.5 p.m. until tomorrow.