LOWER PENSIONS

Northern Advocate, 15 June 1931, Page 2

LOWER PENSIONS

OBJECTION BY E.S.A, TN.T(ISTICE ALLEGED. (.special to “Northern Advocate.”) AUCKLAND, This Day. The decision of the Government to reduce by -10 per cent the economic pensions paid to returned soldiers, was discussed by the executive of the Auckland Returned Soldiers' Association. AD A. C. A. 'Sexton said that returned men were prepared to make any sacrifices that the economic condition of the country demanded, if the cost of living, when providing for pensions in the first place, was taken into account, as compared with present cost of living;' and further, that all sections of the community shared in tlie sacrifices that had to be made. He pointed out that the' Ye sir Book showed tlie following approximate amounts to be owing in New’ Zealand for security of money: —Mortgages, £150,000,000: local body indebtedness, £36,000,000; Government indebtedness, £117,000,000; deposits with | banks, £40,500,000; and trustee savings banks, £9,000,000; a total of £413,000,000. Mr Sexton added that a 10 per cent fall in the cost of living meant that the purchasing power of the amounts quoted increased by 10 per cent, or by £5(),000,000.So long as that position obtained, returned men strenuously objected to any cut in their pensions. He suggested that the . Government be asked what it w r as doing, or proposed to do, to eliminate the great injustice that the figures quoted rei voaled. The suggestion w r as adopted, and it was decided to forward a statement on the lines prepared by Mr Sexton to the Prime Minister.