STATE PROJECTS
ENHANCED VALUE OF LAND PROTECTION FOR GOVERNMENT (F.0.P.R.) WELLINGTON, Dec. 13. Reference to the clause in the Finance Bill relating to the taking of land at its proper value was made by several speakers during consideration of the Bill in the House of Representatives to-night. The clause provides that if the Government notifies that a major work is to be undertaken in a particular area, then appreciation in the value of the land there shall not be against the Government, which is to have the right to buy the land at its value prior to the announcement of the project.
Opposition members contended that land< values" should not be based on the basic definition contained in the Servicemen’s Settlement and Land Sales Act. The Minister of Finance, Mr W. Nash, gave examples where the Government had been required to pay large sums of the taxpayers’ money In acquiring land at the enhanced values created by State projects embarked upon for the welfare of the community as a whole. The clause would definitely put an end to practices of that kind, which he thought the majority of the community would not approve.
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Bibliographic details
Otago Daily Times, Issue 25718, 14 December 1944, Page 6
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193STATE PROJECTS Otago Daily Times, Issue 25718, 14 December 1944, Page 6
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