FINANCE BILL

Southland Times, Issue 19393, 6 November 1924, Page 5

FINANCE BILL

SOUTH SEAS EXHIBITION FIRE BOARD BORROWING PAY OF HOSPITAL CHAIRMEN. (Our Parliamentary Reporter.) WELLINGTON, November 5. There are many clauses of general interest in theh Finance Bill introduced last night. The New Zealand South Seas Exhibition, to be held at Dunedin next year, is the subject of a number of clauses in the Finance Bill. Regarding the provision of land leases, pay and working conditions of employees, cost of preparation and collection of exhibits, etc., local authorities are empowered to defray from their ordinary revenue the cost of collecting and preparing exhibits of their products and resources of their districts. The limit of £30,000 in the case of the Fire Boards of Auckland, Christchurch and Dunedin, and £20,000 in the case of other Fire Boards over and above the limits fixed for borrowing in Section 39 of the Finance Act, 1920, is removed by a clause in the Finance Bill. An owner of property insured with a company not carrying on business in New Zealand or with an office or branch outside New Zealand of a company carrying on business in the Dominion, shall be liable for the contributions to the Fire Board of the Fire District which such company would have been liable to contribute, had it made returns as required by the Fire Brigades Act. Failure to notify, or incomplete, or incorrect notification, is liable to a penalty of £5. PUBLIC FUNCTIONS. Authority is given local authorities for the expenditure of sums for celebrating the visit of the Imperial Service Squadron, the Japanese warships, the departure of Lord and Lady Jellicoe, and the entertainment of the delegates to the Medical Conference. Local authority shall include also Harbour Boards, Tramway Boards, Education Boards, or Hospital Boards. Provision is made for the payment to the Chairman of a Hospital Board. The sum of not more than £250 a year, or not more than one-fifth per cent, of the Board’s maintenance expenditure of the previous year, by way of payment for his services as Chairman is allow. The approval of the Minister of Health must be obtained to the payment of a sum over £lOO. The maximum amount authorised by the Hospitals and Charitable Aid Amendment Act, 1920, was £2OO. TOBACCO DUTIES. The reduction of 8d per pound on imported tobacco is extended to tobacco manufactured in New Zealand. Cut tobacco entered for home consumption is to pay 1/8 per pound if entered after January 16 next, instead of 2/4, while for other tobacco entered for home consumption after that date the rate is reduced from 2/2 to 1/6 per pound. POWERS OF PUBLIC TRUSTEE. A number of amendments affecting the powers of the Public Trustee are included. The most important of them is the one giving power to apply from the investment fluctuation account, or from the assurance and reserve fund. Money for the maintenance and conservation of mortgaged property advances may be made to the mortgagers. Labour may be employed, or farming operations may be carried on. The effect of this will be to give power to the dq?d with farms abandoned by, or likely to be abandoned by the mortgagors. TIMBER ROYALTIES. The vexed question of the payment of a part of the royalties from timber in Crown land to the local authority in whose district theh land is situated has received attention. Power is given to pay to the local body one-half of the proceeds of Native timber sold in bulk, just as if the proceeds had been royalties. Where a forest has been set aside as a state forest, or provisional State forest, the local authority is to receive one-fifth part of the revenue received as royalty on Native timber. PARLIAMENTARY TRAVELLERS. Provisions for the payment of a certain number of boat fares to members of Parliament who have to travel by sea to reach Wellington are contained in the Finance Bill. Each member is to receive not more than 24 tickets a year to visit Wellington from the port most convenient of access to his home and to return. The tickets are to be paid for out of moneys appropriated by Parliament for the purpose. Six passages for the wife of each member, or at his option a daughter or sister are to be provided out of the public funds in the same way. TEACHERS’ SUPPERANNUATION. The Finance Bill restores the right to certain, teachers who elect to remain under the 1908 Act to contribute to the teachers’ superannuation fund. The Teachers’ Superannuation Board may also allow a contributor to count for superannuation purposes any period prior to his becoming a contributor, if it is satisfied that his becoming a contributor was delayed by reason of service with the Expenditionary Force. GORE PROTECTIVE WORKS’ Authority is given for the amount of £2450 owing to the Crown by the Gore Borough Council in respect of Gore Protective works (Mataura River) to be regarded as a .loan to the Council repayable with interest at 54 per cent by ten annual payments of £225 0/9. Financial arrangements for the administration of the Land Transfer Compulsory Registration of Titles Act are included. The payment out of the Land Assurance Fund Account of the main Act of sums up to £lO,OOO a year is to be made at the descretion of the Minister of Finance to carry the scheme into effect. This proviso covering additional office accommodation and the payment of an augmented staff to meet the provisions of the Bank of New Zealand Act, 1920. The Minister of Finance is empowered to pay £375,000 for 375,000 preference “B” shares created under that Act. A Marine Insurance Fund, to cover the cost of any Government stores lost while being transported by sea is to be created into this fund. There are to be paid premiums at rates to be determined by the Minister of Finance on any goods transported by sea. When the fund exceeds £50,000, the excess may be transferred to the Consolidated Fund, while any deficiency is to be made good from the Consolidated Fund. The rate of interest charged on unpaid death duties after the expiry of three months is decreased from six per cent to five per cent. By section 5 of the New Zealand Loans Act, 1908, the Minister of Finance is empowered to raise loans on the security of “debentures or scrip or stock.” That power is widened by the addition of the words: “or other securities.” Section 17 of the same Act gives him the power to issue new debentures, scrip or stock, to pay off a loan at maturity. This year’s Bill provides for the omission of the words “at maturity,” so that new issues may be mdde at any time to meet the loan. Power for an Order-ni-Council to be issued imposing on gas companies, or local authorities owning gas-works the liability to eontrbute towards the cost of administering the Board of Trade (Gas) Regulations, 1924, gazetted on September 25 last, is contained in the Bill. The levy is not to be more than 15/- per 1,000,000 feet, on gas sold during teh previous year. LATE SOLICITOR-GENERAL. An annuity of £2OO per annum for life is conferred on Lady Salmond in recognition of the services rendered by the late Sir John Salmond as Solicitor-General. POWER BOARD LOANS. Authority is given to Electric Power Boards in the financial year prior to that in which they commence the supply of electric energy, to borrow, either from the

bank, or other societys by way of overdraft, such sum as the Minister of Works approves. Local authorities are permitted to allow disabled soldiers or sailors, to travel without charge on tramways or other services for conveyance conducted by that body. Travelling allowances to members of Rabbit Boards are authorised. The following amending and new clauses were added to the Finance Bill in regard to the remuneration of chairman of hospital boards: The board may pay the chairman £lOO per annum in cases where cn fifth per cent, of the Board’s maintenance expenditure for the previous financial year does not exceed £lOO. A similar provision of £250 where it does not exceed that amount. A new clause authorised reciprocal arrangements with respect of the grant of assistance to members of naval or military forces of other dominions.