QUESTION OF REFINANCE FOR EX-SERVICEMEN

Chronicle (Levin), 4 September 1947, Page 3

QUESTION OF REFINANCE FOR EX-SERVICEMEN

WELLINGTON, Sept. 3. Only where it could be shown that an ex-serviceman's war service had affected his property or circuinstances detrimentally could the proposition be considered for refinanee at lowor rehabilitation interest rates, the Minister of Rehabilitation, Mr. C. F. Skinner, said in the Ilouse this afternoon when replying to a question asked by Mr. M. II. Orani (Nlanawatu) last week. Mr. Orani had suggested that the Governn'ient consider revising its decision to charge 4 J per cent. in respect of loans granted to ex-servicemen to repay overdue mortgages on farm properties acquired by servicemen before they left New Zealand. Mr. Skinner replied that the Re--habilitation Act provides for assistance which might be necessary to reestablish ex-servicemeu in eivil life. In the case of a man who entered iuto eomm|fiments before his service, it would have to be shown that his war service alfecied his prop|rty or circuinstances detrimentally before a proposition could be considered for rellnance at lower interest rehabilitation rates. Should the farm, on account of the exserviccman's absence on service, have deteriorated or should the exserviceman, as a direct rcsult of his service, have suffered some in,jury vvith consequent loss of working capacity, then his case could certainlv be considered. In certain circumstancea applications for refinanee at a lower rate can be considered but only where the hardship, deterioration or some other circumstance can be shown as being direetly attributable to war service.