INTEREST RATES

Otago Daily Times, Issue 25672, 21 October 1944, Page 6

INTEREST RATES

REHABILITATION LOANS reduction shortly (F.0.P.R.) WELLINGTON, Oct. 20. “ The interest rates charged on loans to ex-servicemen of this war are under investigation, and the Government does intend to reduce the rates,” said the Minister of Rehabilitation, Mr C. F. Skinner, when the Rehabilitation Department estimates were discussed by the House of Representatives to-day. The Minister, who was replying to Mr T. H. McCombs (Govt., Lyttelton), said he could not at that stage say what the new rates would be, but he would make a statement shortly. Mr W. J. Poison (Oppn., Stratford) said he understood that a Bill amending the Rehabilitation Act would come down soon, and as the whole question of rehabilitation could not be adequately discussed in the five-minute speeches on the estimates, he would suggest that some arrangement be made to provide a special opportunity for a full review of rehabilitation on a special occasion. The amending Bill would provide a suitable opportunity. The Minister of Finance, Mr W, Nash, said a Bill had been prepared and was being considered by the Minister of Rehabilitation at the present time. It was likely to appear in the House next week, and it should give an,opportunity for a discussion on policy and all matters relating to the welfare of exservicemen.

The Opposition agreed to defer discussion and the vote was agreed to.