CLOAK FOR NATIONALISATION

Otago Daily Times, Issue 25300, 10 August 1943, Page 2

CLOAK FOR NATIONALISATION

OBJECTION BY SHEF.POWNERS’ FEDERATION (P.A.) WELLINGTON, Aug. 9. The executive of the New Zealand Sheepowners’ Federation, in a statement, says it is strongly opposed to the Land Settlement Bill as drafted, although it supports the principle of providing a sound basis for the settlement of those returned soldiers wishing to take up land. While fully supporting this principle, the executive is of the opinion that the Bill has been framed with a total disregard of the facts to be faced in its administration. “ The Bill, if made law in its present form,” the statement says, “ will make it possible for a tribunal with Gestapo powers of investigation and decision to assess the sale value of the property of one section of the community only, while leaving the owners of other forms of property free to dispose of their business or other assets exempt from similar restrictions. It would appear that public sentiment with regard to the need to provide for the successful settlement of our returned men is being used to promote the Government’s policy of nationalisation of all land, and is aimed at extending the principle of Government fixation of price not only of the products of the land, but also of the land itself. The clauses in the Bill dealing with the fixation of basic values, basic rents, and productive values can have no other than a speculative foundation, there being no sound basis for calculation under to-day’s conditions.” The statement adds that the possible serious effect of the proposals in the Bill on farm mortgages and on the inflow of capital for investment in broad acres, which were previously considered by great numbers of people as being the soundest form of investment, was a matter for serious concern. Should the finance for this purpose be seriously disturbed, the repercussions on property holders and financial institutions might also prove serious indeed.