PARLIAMENT

Hokitika Guardian, 15 August 1917, Page 1

PARLIAMENT

THE- HOUSE

WELLINGTON, Aug. 1} Tlio House met. at. -2.30. p.m.. COST OF LIVING.

Replying to Mr J. Craigie, tho lyreniier said that lie had no objection to set up a committee to consider, tho question of the cost of living. It would be very useful in giving those concerned some idea of the difficulties in the way of 'dealing with the problem.

WAR IjOAN PROSPECTS. Sir Joseph Ward laid on the table of tlie House the prospectus of the war loan. lie explained tho new arrangements made with the Post Office, which would enable anyone of slender moans/to participate in tlie loan. In addition to commuted investment adopted iiP'comiection with the last loan, investments might be taken no to £50!) at 5 per cent for periods of five or ten years, interest pajyable six monthly. This - latter form oi investment would not be free of income tax, because, if so, many people who ought to take rip large amounts at -I A % would rush to tho Post Office, getting the benefit- of the higher rate, while those who were only able to take up to V'ly. Would not he subject to income, tax in any case. He was also arranging that those who took up commuted investments in the last loan might he enabled to change to tho new form in five or ten years, if they so desired.

■Replying to Dr A. K. Newman, Sir Joseph Ward said that the hanks had agreed bo lend money to clients to enable them to take up loan debentures at a rate not exceeding .«)!%• Ihe fust part of the loan, lie thought, would last till February. In that case, the second part would probably be March. CUSTOMS AMENDMENT.

Sir Joseph Ward introduced by resolution the amendment to, tlie Customs Act, imposing further preferential surtax duties on goods not being, produced or manufactured in tlie Tiritish Dominions. He explained that tlie alterations would remove certain anomalies in connection with tlie taxation on silks, which be had pointed out during the, debate on the Budget. The new duties would also bring b • additional revenue as well as giye further preference to Britain. If the House agreed to the new scale of duties, the Government could see its way to raise pensions by five shillings per week. The new duties on tobacco were intended to protect the cigarmaking industry in the Dominion. Mr. 0. A. Wilkinson said that the list might have been considerably extended with benefit to lirrtam.

M»‘ 0. H- P°ole considered that the importation of certain articles of luxury should he prohibited altogether as in Australia,

Messrs J. Payne and P. 0. Webb objected to any increase in Customs duties, which was a strange way or reducing tlie cost of living. The resolutions were agreed to.

TRADE AND COMMERCE ACT. iSir Joseph Ward introduced the amendment to the Trade ' and Commerce Act to prevent holders of tea prior to the imposition of the new duty raising the price to consumers. If any such increase bad taken place the consumer would bo entitled to a refund. Tlie (Bill was treated as a matter of urgency and pased througe all stages. MARINE DEPARTMENT. The Hon G. \Y. Russell tabled the report of the Marine Department, the discussion lasting till 5.30 p.m.

The House resumed at 7.30 p.m

Mr G. A. Wilkinson resumed the debate on the Budget, and was followed b v Messrs Hornsby and Witty.

The debate was adjourned on the motion of Air Mander.

COMMITTEE ON COST OF LIVING. Mr Massey moved to sot up u Special Committee tfo .consider the icost of living. This was agreed to and the House rose at It o’clock.