LOAN AUTHORITIES FOR LARGE AMOUNTS SOUGHT BY CABINET

Manawatu Times, Volume LIV, Issue 7061, 8 November 1929, Page 5

LOAN AUTHORITIES FOR LARGE AMOUNTS SOUGHT BY CABINET

£4,000,000 for Public Works

RAILWAY CAPITAL TO BE WRITTEN DOWN £8,100,000

MILLION MORE TOR EDUCATION. From Our Parliamentary Reporter. WELLINGTON, Last Night.

A Public Works loan of £4,000,000 is tho principal feature of the Finance Bill introduced in the House of Representatives to-day.

Tho loan provisions also comprise an additional £1,000,000 for education loan purposes and an additional £500,000 for the purpose of the Forest Act. Another clause makes provision for loan moneys under the Native Land Act, railway improvement, swamp drainage, education purposes and tho Hauraki Plains, to be expended from April 1, .1930 only in accordance with their appropriation by Parliament. The Minister of Finance is empowered to lend up to £IO,OOO to the Fiji Government in connection ■with work at tho Makogai leper .asylum and also up to £IO,OOO to the Native Minister for advances to natives under the legislation of this session.

Tho Bill provides further for an ex : pondituro of £IO,OOO to assist in repairing earthquake damage to public works. Clause 17 authorises the transfer to the consolidated fund of moneys in the Public Trust Office which have been, unclaimed for six years, although they may bo repaid to owners on proof of claims.

The Budget announcement that the capital of the railways would be reduced by .£8,100,000 is given legislative authority in a clause which also provides for the repeal of authority to repay out of the consolidated fund any losses incurfed in operating branch railway lines. Public Trust Moneys. Another Budget item regarding the application of one-half of the profits of tho Public Trust Office to the ordinary revenue of the consolidated fund is provided for. The remaining profits are to be transferred to tho assurance and reserve fund, or investment in the fluctuation account. The Public Trufltoo is authorised from the loan account to make an expenditure for the purpose of minimising any loss on the realise' tion of securities which fell into his hands.

A question having ari6on as to whether, receipts for money handled by savings banks are subject to stamp duty, a clause in the Bill makes it clear that they are to bo exempt from duty. Special postal stamps of denomina-' tion of 2d, half of the proceeds of which will be devoted to tho fund for tho campaign against T. 8., are to be issued. ■ ' A special provision is contained in the measure regarding tho rate of pension payable to children of soldiers in receipt of pensions for total blindness. The Tate is not to be dependant on any property or income of tho soldier, his wife or any of his children.

Miners’ Pensions. The announcement of the Minister of Mines regarding an increase of pension to minors suffering from minors’ phthisis is contained in the Bill. Unmarried men are to receive 25s a week and married men 255, increased by 10s a weclc in rcspoct of the wife and 10s in respect of each child. In the case of a widower, the pension is 25s weekly, increased by 10s in respect of each child. This allowance is subject to reduction by £1 for every complete £1 of actual annual income, except the pension, in excess of £lO4. The maximum pension is to be £4 5s a week.

The Bill contains an extension of authority, enabling employers to become contributors to the national provident fund on behalf of workers.

Friendly societies arc to be authorised, subject to certain conditions, to transfer surplus funds from one benefit fund in aid of any deficient fund.

In connection with tko Dobson mining disaster, the Minister of Minos is authorised to increase by not more than £lO the maximum amount payable from the coal miners relief fund to widow and children or dependants of any unmarried miner who lost his life as a result of the oxplosion, which occurred on December 3, 1926. A general clause in the Bill validates contributions made by local bodies to the earthquake relief fund. Supplementary Estimates.

Tho supplementary estimates provide for transfer from the consolidated funo to the main highways revenue fund of £35,000. Other items arc:—Overhaul of the Maui Pomare £2940, commission in regard to economic pensions for cxsoldiers £2OOO and £6OO for tho erection of a column fronting the new Government buildings at Delhi, India. The Defence estimates include £IOOO for aero pageants and a Marino Department provides £38,000 for the purchase of a now lighthouso tender. Department of Agriculture votes include an additional bonus for export pork £SOOO, and assistance to the tobacco industry (recoverable) £IOOO. The Education vote includes £630 towards the cost of publishing histories of New Zealand and travelling expenses of the Allan Wilkie Shakespearean Company in New Zealand £750.

The new Transport Department involves £7042, including a commissioner at £IOOO and expenses of advisory council £ISOO. The State Forests ac count has additional votes of £126,000 for plantations. Westport harbour votes include for the purchase of a dredge £16,000, extension of the breakwater £SOOO and repair of earthquakedamage £IOOO. Tho Post Ofiicc account includes £15,000 in respect of live months’ mail service from New Zealand to Australia. This probably relates to the new Bluff-Melbourno service.