FINANCE BILL

Hokitika Guardian, 2 December 1927, Page 2

FINANCE BILL

LOANS OF £7,000,000. RELIEF FOR. RACING! CLUBS. WELLINGTON, Nov. 30. Authority for the raising of loans totalling £7,000,000 is contained in the Finance Bill introduced in the House of Representatives to-night. The sum of £4,000.000 may be raised for the following public works:—The construction of railways and additions to open lines, additional rolling stock for open

lines, and such other works and purposes in connexion therewith as may be authorised, telegraph extension, the construction and improvement of roads (including main highways), and the construction of irrigation works. For the purposes of the Railways

Improvement Act, 1914, the Minister for Finance may borrow an additional £2,003,000, and an additional £1,000,000 for the purpose of the Education Purposes Loans Act, 1914. Another clause extends the purposes for which totalisator duty may be refunded under Section 8 of the Finance Act, 1925. Refunds may he made in any ease if the Minister is satisfied that they are required by the racing club for expenditure during the year for the payment of interest on loans for permanent improvements, the repayment of any such moneys, the dis charge of any other liability incurred for such work, to the purchase by any Hunt C'luh of sites for kennels, or for permanent improvements. Authority is given to increase the

Amount that may he loaned to the Samoan Treasury from £16,000 to UMO.OOO. From the profits accrued to the New Zealand Reparation Estates Account fov the year 1927 £12,000 is to he paid to the Samoan Treasury to enable experiments to he conducted with a view to bringing back to a state of fertility Crown lands that have deteriorated, or are naturally lacking in productivity. Land Boards are empowered, with approval of the Minister for Lands, j&Tdispose of such lands on terms and fonHiiions considered desirable, and the Minister may remit wholly or in part or postpone the payment of interest on advances or rent. The payment of a sum of £SOO to the Governor-General as a grant in aid of special expenditure incurred by him in connexion with the visit of the Duke and Duchess of A ork is authorised.

Another clause authorises the amalgamation of schemes under the State Supply or Electrical Energy Act. The Bill provides for the periodical payment out ol the C onsolklatcd 1- und into tlio main highways revenue fund of an amount equal to that estimated by the Controller of Customs to he the amount of Customs duties received on rubber tyres and inner tubes attached to or imported with motor vehicles. There is provision that all acts done on behalf of the Government in relation to the importation and sale of wheat- from Australia in 1925 and 1925 shall he validated. It is proposed that county councils may make a levy on timber produced in the county hot exceeding one penny

per hundred feet broad measure. The levy is to he payable only in respect of sawn timber from native trees that have not been planted. The object of the legislation is to recoup to local authorities the loss sustained through 'the reduced rateable value ol the land through the cutting of the timber. A clause proposes to validate agreements made between hospital hoards and local authorities for the employment of applicants for charitable relief. It is provided that moneys payable by the Fruit Export Control Board to owners of fruit may bo paid to the New Zealand Fruitgrowers’ Association as owners for the agents.