SUBSIDIES

Timaru Herald, Volume CXL, Issue 20260, 8 November 1935, Page 8

SUBSIDIES

FARM BUILDINGS AND MACHINERY DETAILS OF SCHEME By Telegraph—Press Association PAPAROA, November 7. Details of a scheme approved by the Unemployment Board to assist farmers to purchase farm implements and machinery and to erect farm buildings were announced to-day by the Minister of Finance, the lit. Hon. J. O. Coates. The new scheme is an extension of the existing B2 scheme which provides subsidies for improvements to dairy farms. The extension covers the granting of subsidies for the erection of woolsheds. implement sheds and other approved farm buildings and the payment of subsidies for farm and orchard machinery and implements of New Zealand manufacture. The subsidy will apply to work commenced on or before April 30, 1936. The manufacture of agricultural implements is still languishing and after a careful examination of the existing subsidy schemes the Board had come to the conclusion that a large volume of employment would be stimulated both by this subsidy and the extension cf grants for farm buildings.

Mr Coates said that the amount of the subsidy for farm buildings would be 8 per cent on the contract price, or if the work were carried out by a farmer 10 per cent on the net invoice cost of the materials. The subsidy for implements would be £2 for the first £lO of the net invoice cost, exclusive of transport and installation charges, and subsequently 1/4 in the £1 up to £IOO, thereafter 8 per cent up to £2OO and 5 per cent on any amount in excess of £2OO. The necessary recommendation would have to be made by the Minister of Agriculture as under the existing B2 scheme before any subsidy could be granted. The full schedule for machinery to which the subsidy would be available would be issued shortly.

“I should like to draw attention to the fact that the subsidy schemes now apply to new dwellings and buildings to which no private gain is attached," said Mr Coates. “Churches, libraries, halls, extensions to and the painting of such buildings and the equipment of dairy factories and dairy farms, as well as the extension of such structures, are also eligible.”