BEETROOT SUGAR BILL.

Waikato Argus, Volume V, Issue 310, 5 July 1898, Page 2

BEETROOT SUGAR BILL.

The Government Beetroot Sugar Bill provides that every company, not exceeding three in number, shall be entitled to a bonus of £12,000 in respect of sugar manufactured in New Zealand from beetroot or sorghum. Such bonus shall he payable by four annual instalments of £3OOO for each year in which the company produces not less than 1000 tons of sugar ; provided that no instalment shall be payable after March 1910, and also that the total amount payable shall not exceed £30,000. During the period elapsing between the coming into operation of the Act and J9lO, the following provisions shall apply :—(1) So long as the import duty on sugar does not exceed {id per lb no duty by way of excise shall be levied ou any sugar manufactured from beetroot and sorghum grown in New Zealand ; (2) in the event of both import and excise duties being levied on sugar, they shall be so adjusted that there shall at all times be a difference of at least id per lb in favour of sugar manufactured in New Zealand from beetroot or sorghum. Any company authorised by its articles to borrow money on the security of its assets may make application to the Minister for a loan, provided that the number of conv panics to which loans may be granted under this Act shall not exceed three. No loan shall be granted except tor (1) jthe acquisition of land as a site tor the company's sugar works ; (2) the erection, acquisition, or extension of .suitable buildings for such sugar works ; (3) the supply and erection of suitable plaut and machinery for such sugar works. The Bill is a long one, consisting of 10 pagw aud 20 clauses, ■'