War Damage Insurance

Manawatu Times, Volume 68, Issue 57, 9 March 1943, Page 4

War Damage Insurance

“The Government is anxious to reduce and eventually to discontinue tlio charge at the earliest possible moment and while no definite date can be given at present as to when this will be effected, much will depend upon the course of the war in the Pacific.’’ This reply was received by the Palmerston Nortii Chamber of Commerce last night in the matter of war damage insurance, the intention being conveyed by the Prime Minister. Mr. Fraser added: “It will be appreciated that the present premium is by no means adequate when compared with the liability involved and as the compulsory aspects of the scheme have been in operation only a year, insufficient time has elapsed for a reasonably adequate reserve to be accumulated. The position will bo reviewed from time to time and certainly before the close of the current year, in the hope that circumstances will then justify at least a reduction in the premium. It was stated during a short discussion m tlio Prime Minister’s reply, that nothing could be done by the Government before February of next year.