The Daily News TUESDAY, DECEMBER 19, 1933. THE FINANCE BILL.

Taranaki Daily News, 19 December 1933, Page 4

The Daily News

TUESDAY, DECEMBER 19, 1933. THE FINANCE BILL.

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If the latest Finance Bill had been introduced in the earliest instead of the closing days of the Parliamentary session the Ministry would have claimed, no doubt, that it constituted quite a respectable programme of work. The scope of the Bill is certainly as widespread as any that have been before the House this session, and varies in importance from the monopoly of issuing currency notes to the supply of weedkiller at cost price. It must be perfectly obvious that while many of the clauses of the Bill may be only an adjustment of the administrative machine, others are of such importance as to demand much further discussion than they are likely to receive from a House that is impatient to go into recess. The provision in the Bill for State approval of the conditions of fire insurance policies may be a very desirable amendment of the law. But it takes some imagination to see the connection of this subject with the national finances, except of course that the community must in the long run make good the losses suffered through inadequate insurance cover, as the community must really bear the loss of assets destroyed by fire whether covered by insurance or not. An important principle is raised in the Bill in regard to the basis upon which superannuation is to be calculated. The question of retiring allowances generally is one that is now the subject of negotiation between superannuitants and the Government, and jt seems curious that an alteration in the system should be made in regard to one principle when the whole system must be overhauled before very long. The borrowing powers of local authorities are to be extended by enabling them to issue stock as well as debentures. The issue of stock is often the more convenient method of borrowing money. It suits the longterm investor, and the new legislation may be welcomed by certain authorities. But here again there is an amendment of detail when the whole system of local government has been long overdue. In such matters as the supervision of building societies to ensure that shareholders have a “fair run for their money,” or the provision of. deposits by insurance companies with the Public Trustee in order to cover third-party risks, there is much to be said in favour of the proposals. What is not so easily supported is the inclusion of such legislation in a Finance Bill. The same may be said of the provision for the suspension of the regrading of .officers in the Railways and in the Post and Telegraph Departments. The suspension may be thoroughly justified, but the administration of both those departments is provided for in a series of Acts referring specifically to the control of those great State enterprises. Amending legislation should surely form part of such special laws rather than be included in what is presumably legislation for the better administration of the country’s finances. Even the functions of the Unemployment Board and of local authorities in providing relief works are considerably amended in this extraordinary piece of legislation. To rush it through a jaded House minus any real criticism or thorough consideration may leave bureaucracy with freer powers. Whether that is wise can be considered in the light of the inquiry that is to be made into the administration of Native Affairs. One thing is certain, omnibus legislation rushed through without debate does not add to the reputation of the Legislature, nor does it tend to establish faith in its capacity to handle the bigger problems of self-govern-ment.