FINANCE BILL.

Press, Volume LX, Issue 18222, 5 November 1924, Page 8

FINANCE BILL.

GOVERNMENT'S LOAN PROPOSALS. RACING CLUBS AND TAXATION. (rnsss ASSOCIATION tblsobam.) WELLINGTON, November 4. In the House of representatives tonight the Finance Bill wad brought down by Governor-General's message. Mr Massey said the Bill contained the borrowing proposals of the Government. They were two millions for Public Works ami not more than five millions for the Advances TJepartment. There was nothing in the Bill reducing taxation on country racing clubs. Ho had been looking into this matter, hut he did not think it would be wis© to reduce the taxation this year. The position was complicated, and ho thought, he would be able to bring down proposals next vear which would meet the whole position. He did not propose to go on with the Bui till tomorrow. The Bill was introduced and read si first time. PROVISIONS OF THE MEASURE. SOME IMPORTANT CLAUSES. (SPECIAL TO "THE PBZSS.") WELLINGTON, Nov&mher 4.

The Finance Bill, which came down to-night, is a lengthy document of 71 clauses. To -a certain extent this Bill has nowadays become a kind of financial Washing-Up .Bill, and the Prime Minister to-day said there were clauses in it which he would rather not see in a Finance Bill.

Part one of the Bill deals with public revenue and loans. Power is taken to borrow £2,000,000 for public works, including irrigation. There is an extension of the authority to borrow moneys for the purposes of the Advances Office from £3.000,000 to £5,000,000 in any one financial year. There- is provision for an increase of tjhe limit of impnest account from £IOO,OOO to £160,000.

The Minister of Finance is to be authorised to pay out of the Consolidated Fund £375,000 for the preference Bank of New Zealand shares proposed to he created and issued by the Bank of New Zealand, pursuant to the authority conferred on the bank. It is proposed to establish si Government Stores Marine Insurance Fund.

B/elief to employers is pro-posed. Notwithstanding anything to tho contrary in any Act, or in any award or agreement under tne Industrial /Conciliation and Arbitration Act, 1908, or in any contract, no person shall hereafter be required to pay to any person in his employment or service by way of salary or wages in respect of any period during which such last-mentioned person may be in attendance at a training camp held for the purposes of the Defence Act, 1909, an amount more than the excess of the salary or wages that would have been payable if the section had not been passed, over the amount of the allowance paid to such person out of the Public Account in respect of his attendance at such camp. Every member of the General Assembly shall be entitled during each financial year to receive for his exclusive use fa that year, tickets for not more than twenty-four passages between the port most convenient of access to his home, and any other port in New Zealand for the purpose of enabling him to come from his home to Wellington or to return home from Wellington. Wives of members are to be entitled to tickets for six passage's. The Parliamentary delegates to South Africa are to receive £l5O each for expenses.

Lady Salmond is to receive an annuity of £2OO in recognition of the public services of her late husband. The Governor-General-in-Council may from time to time appoint a Commissioner for New Zealand in Canada and the United States of America, who shall hold office during the pleasure of the Governor-General. The Commissioner shall carry out such instructions as he receives from the New Zealand Government respecting the commercial interests of New Zealand in relation to Canada and the United States. He shall not be accredited to the Governments of those countries, nor shall he communicate directly or indirectly with those Governments unless specially directed by the New Zealand Government to make or receive such communications in respect of any particular matter of trading or commercial interest.

Part 2 of the Bill deals with various matters connected with the Superannuation Fund. There is a clause restoring the right of election to become a contributor to the Teachers' Superannuation Fund. Another clauae provides that the Teachers' Superannuation Board may 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 Expeditionary Force. A few individual cases are specially dealt with. There are special provisions for the payment of retiring allowances to Magistrates. An annual retiring allowance is to be computed a s follows: F or every year of service as a Stipendiary Magistrate, whether such service is'continuous or not, he shall receive one-fortieth part of the annual salary receivable by him at the date of his retirement, but in no case shall the retiring allowance exceed twenty five-fortieths of such salary. Tho Bill provides mat the establishment bv the Christohwrch Fire Board of a deferred payment fund for the purpose of paying gratuities or pensions on retirement to ioremen in the employment, of tho Board, or to thendependents, is hereby validated The Bill contains tho following clause :-For the purposes ot the provisions of the Land Act, 1908, relating to timber royalties. ro - v a' tie ? shall as from March 31st M 24, be read and interpreted as including receipts from sides of native timber in bulk and payments to local authorities shall be made accordingly Under the Bill hospital boards are to be authorised to pay annual subscriptions to the Hospitals' Association aad reasonable travelling expenses ot it representatives to meetings. The Southland Hospital Board is to be authorised to oay to Mary Ewnrt, as from December 31st, &■&,*. lesion of £1 a week during her, life, and the Otago Hospital Board to Isabella Fraser a pension of £IOO a year during her liJfe.