FINANCE BILL

New Zealand Herald, Volume 82, Issue 25259, 20 July 1945, Page 8

FINANCE BILL

"NO TIME_FOK STUDY" CLAIM BY OPPOSITION (P.A.) "WELLINGTON, Thursday Miscellaneous provisions are contained in the Finance Bill of 18 clauses which was introduced and read a first time in the House of Representatives this afternoon. The second reading was commenced tonight. Most of the clauses are of a relatively minor nature.

Authority is given for payments from accounts established under the Marketing Act, 1936, for purposes of stabilisation. Relevant clauses state that the Minister of Marketing may, in accordance with agreements entered into with representatives of the industry concerned, approve of contributions toward any expenditure incurred for the purpose of subsidising costs of production or marketing of goods of a class in relation to which the atcount has been established, or for the purpose of equalising as far as possible the not returns received or payable for any such goods. Provision is made for the investment of Public Account cash balances in Government securities. Powers lor Treasury

Another clause increases the limits of amounts that may be issued by way of general imprest for payment of interest on loans from £600,000 to £1,500,000. It also increases the total amount that may be outstanding in the books of the Treasury Audit Office for general services from £750,000 to £1,000.000.

The bill provides that the general salary increase is not be taken into account in fixing the maximum remuneration of retired public servants and teachers temporarily re-employed. Assistant - commissioners of Stamp Duties are authorised to reduce or remit penalties for late presentation of documents for stamping. Transfers of shares are to be chargeable with duty as deeds if exempt from conveyance duty.

Local Body Loans A clause makes it lawful for a local body to pledge any of its property as security for a special loan notwithstanding that the property may have been previously pledged as security for any other loan. This authority is deemed to have always been lawful. Any consolidated or new debentures issued in lieu of cancelled debentures shall have the same priority as the cancelled debentures. The consent of the Local Government Loans Board is required to extensions of loans for more than one year. Local authorities are authorised to make grants to dependants of deceased employees. Members of the General Assembly are not to be disqualified because of ,the receipt of remuneration as members of! the Licensing Commission. The final clause in the bill provides that moneys owing by trading companies and bearing interest are deemed to have been borrowed under contracts of deposit. Protest and Explanation When the House met tonight, the acting-Leader of the Oppositioi!, Mr W. J. Poison, said that members of the Opposition had not received their copies of the bill until after tea and had not had time to study the measure, some of the clauses of which were farreaching and intricate. The Minister's explanation would be helpful, but the Opposition would like further debate to be postponed. The Minister of Finance, Mr Nash, said that the debate could go on tomorrow and on Monday if necessary. He considered that after he had moved the second reading the debate could go on tonight. The Speaker, the Hon. F. W. Schramm, said ne would see that the rights of minorities were observed and called on Mr Nash to speak. The Minister went through the bill clause by clause in detail. Describing the clause authorising payments from accounts under the Marketing Act. he said this would enable the Marketing Department to reimburse certain payments made by the Government to stabilise the cost of production, processing and export of primary products. Re-employed Public Servants

Referring to the clause dealing with the remuneration of public servants and teachers temporarily re-employed, Mr Nash said it met to a limited extent some of the. representations made by public servants. The clause provided that increases given to "public servants should be given to re-employed servants without affecting their superannuation.

The Minister said the clause dealing with general imprest did not authorise any additional expenditure, but made more money available to meet authorisations.

Explaining the clause authorising and validating successive securities under the Local Bodies Loans Act, Mr Nash said that the genera! practice was for a local authority to pledge a rate to cover a proposed loan. As a hospital board did not rate it had been suggested that if it pledged its assets it had nothing else to pledge. Actually it had because it could pledge its power to call on a local authority to give it money for which the local authority had to levy a rate. The clause dealt with that position. Stabilisation and Lump Sums

Mr Poison said that if stabilisation was to be applied in New Zealand it should be applied to every section and not only to farmers, upon whom the economy of the country depended. Britain had obtained a benefit by buying New Zealand produce at a low price and bulk payments were made in recognition of those prices and were earned by the primary producers who did not receive them. No other part of the Empire had received bulk payments because other parts of the Empire had received higher prices for primary products. One part of the community had earned money which had been taken to bolster up other sections of the community. Referring to other parts of the bill, Mr Poison said it was apparent that tlie Minister of Finance believed he could spend the people's money better than they could spend it themselves and was taking further powers to collect more from them. There were many clauses in the measure about which Mr Poison had doubts. The Debate Adjourned Mr C. M. Williams (Government — Kaiapoi) said that the farmers had benefited as much as anyone else from stabilisation. The lump sum payments were made by Britain because; New "Zealand had kept down the cost of production by stabilisation measures paid for out of the general fund. Mr G. A. MnCkloy (Opposition— Masterton) said the Government would be the first to object if a private employer paid a suporaimmtant only £2OO a year because lie was receiving £.'!()0 superannuation, but that was iust what the Government was doing. If a private employer tried it tiniou officials would soon be after him. Mr T. H. MeCombs (Government— Lytteltdn) said the bill went a long way to remove an injustice to reemployed civil servants. It made payment of the increases retrospective to the time when the increases were made. The debate was adjourned and the i House rose at 10.23 until tomorrow! morning.

GAMBLING COMMISSION (S.R.) WELLINGTON", Thursday A reply that the matter was at present receiving the consideration of the Government was given bv the .Minister of Interna! Affairs, Mr Parry, ft'ben asked by Mr H. T. Morton (Opposition—"Waitemata) in the House of Representatives if it was intended to appoint a Royal Commission as promised to devise ways and means of controlling I gambling