EMPIRE DEVELOPMENT

Waimate Daily Advertiser, Volume XXIII, 22 November 1923, Page 2

EMPIRE DEVELOPMENT

BRITISH ASSISTANCE TO NEW ZEALAND. PEK PH ESS ASSOCIATION—'■SOPYBIGHT LONDON, November 20. With a view to taking advantage of the British Government's assistance for the development of the Empire Sir James Allen has invited Mr Evan Parry (formerly chief engineer of the Public Works Department of New Zealand) to formulate a .scheme by which the Arapuni electric installation can be completed in two veins instead of five, thereby necessitating immediate orders for transmission material for sub-stations, power lines, plants, etc. The scheme includes the electrification oi the Lyttelton tunnel, completion of the Coleridge scheme, electrification of the West Coast railway to Springfield. Mr Massey will consider proposal shortly. [The Economic Conference devoted a careful consideration to the report of the committee on co-operation in financial assistance for Imperial development. The Conference came to a unanimous decision to accept a proposal that if the British Government advances money to the Dominion Governments, local bodies, or even private, firms engaged in developmental works overseas the material used shall be purchased in Britain. 11 the British Parliament .ratifies the proposal the scheme will be proceeded with, Britain advancing three-fourths of the purchase money for such material free of interest for five years. The following is the text of the rt solution adopted by the conference: — “The suggestion which the Imperial Government makes is that in order to facilitate anticipated work which otherwise would not be undertaken for some years, it should give n contribution towards the interest charges on loans, raised for capital expenditure of this kind for public utility undertakings;, ] namely, communications, power, lighting, water drainage, irrigation, etc. These undertakings might be under either public or private control and management. “Assistance would be given in respect of expenditure on orders placed in Britain, and would be applicable only to schemes approved by the Dominion or central Government concerned.and certified by it to be in anticipation of normal expenditure. Payment would be made to the Dominion or central Government, which would be responsible for payment to the ultimate recipient. “It is suggested that the maximum grant be three-fourths of interest charges for five years. In order to ' modify for such Imperial contribution the schemes must be accepted by the Tmpe'ial Government within the next three years.]