A Parliamentary Notebook

Sun (Auckland), Volume I, Issue 131, 24 August 1927, Page 8

A Parliamentary Notebook

A Useful Sitting *

(THE SUN'S Parliamentary Reporter j WELLINGTON, Tuesday! More work was accomplished hv Parliament to-day than was n ,,'! through during the whole of the t*„ past weeks. The Finance Bill introduced and passed through the second reading stage. The Fungicide and Insecticide Bill was introduced and the Egmont National Park Amend meat Bill read a second time, as A the War Funds Amendment Bill The Government evidently is satisfied | with the good legislative mood of members, and Mr. Coates moved the adjournment at 11.30 p.m. Egmont National Park The second reading of the Egmont National Park Amendment Bill was moved in the House this evening by the Hon. K. S. Williams, on behalf of the Minister of Lands. The Minister said the Bill altered the constitution of the local committee and authorised the New Plymouth Borough Council on behalf of the board, to borrow money for the purposes of the park the council to he reimbursed by the board out of its funds. The Bill was read a second time. HI H? Administration of War Funds The War Funds Amendment Bill moved in the House this evening by the Minister of Finance, Hon. W Downie Stewart, extends the definition of “war fund” to include investments, etc., that have been transferred by trustees and are held by other persons in trust. Under the Bill the Minister of Finance is authorised to pay to the National W T ar Funds Council unexpended balances of war funds remaining in the public account. A further clause provides for the transfer of the premises of the Returned Soldiers' Club in Christchurch to the National War Funds Council, who will hold it as a war fund within the meaning of the prinicpal Act. Mr. W. J. Jordan, Manukau, wanted to know what was to become of these war funds. The Veterans’ Home in Auckland was now being maintained out of these patriotic funds and he did not think the country should be relieved of its responsibility in that way. The Bill was read a second time. Repayment of Debt The total amount of the public debt brought within the provisions of the Repayment of the Public Debt Act. 1925, was £174,128,134 13s 2d. During 1925-26, stock of a nominal value of £889,732 13s 2d was discharged. The report of the Public Debt Commission states that the amount of debt redeemed or repaid during the last financial year was £942,020, making a total since the Act of 1925 came into force of £1,831,752 13s 2d. The amount of debt within the scheme outstanding at March 31, 1927, was £182,113,695 18s 7d. The increase over the original amount represents subsequent borrowing, which is auto matically brought within the operation of the scheme.