Mr. Nash On National Party's Benefit Scheme

Chronicle (Levin), 10 November 1949, Page 6

Mr. Nash On National Party's Benefit Scheme

MASTERTON, Noy. 9. Tlxe National Party's scheme for rnaking a grant of 2s 13d a week for eaeh year that the age benefieiaries delaved aceepting tlie benefit was cvitieised in Masterton tonight by the Minister of Finance (Mr Nash). Under Mr Ifolland's scheme, Mr Nash said, a couple vvho waited five years before aceepting the.wage benefit would have to eaeh li.ve to be S5 years of age to obtain the extra £64 a year for which they would otherwise under the ordinary benefit have received £1600. Any couple delaying for a year aceepting the age benefit would lose £265 a year. Eaeh would have to live to be 81 years of age before they could recover the dilTerence. The Labour Government, Mr Nash said, did not waut to stop people from working after 60. Work was the best thing in the world for thein. The Government could do better tinui Mr Holland's scheme by increasing the aliowable incoine. Mr Ilolland 's scheme was not a good bargain. In Januarv it was intended to increase the allowable incoine from £1 a week to 30s. Outlining the Government 's scheme for people buildiug their own liomes with 100 per ccnt Government loans Ihe Minister said that. loans of up to £1500 would be at 31 per eent spread o\ er 40 years. That would work out at £1 6s 1 1 d a week. Principal and interest rates and insurance charges would be extra. but i'or a eompulsory paymont of 2s a week if the borrower died the house would become ti) e freehold jiroperty of the widov/. The Government would make available at cost seetions from bloeks which had been surveycd, roaded, etc. Mr Ilolland. iUr Nash said, declared that the Government had "stolen its 194(3 policy. " Mr Hoilanil had in 194(5 taken from a 1938 State Ad\ances circuiar the very thing he had accused the Government of stealing, Mr Nash said.