SUBSIDY ON LOAN
HELP FOR ONEHUNGA IS POSTPONED Mr. W. J. Jordan, M.P. for Manukau. having advised the Onehunga Borough Council that the Prime Minister had promised to subsidise on a X I for £1 basis a loan of £ 7,000 for relief work, the council in committee recommended that the town clerk be authorised to proceed with the necessary formalities at once and that the Works Committee proceed to prepare a report on the works proposed to be undertaken. The council at its meeting last evening adopted this recommendation, but at a later stage of the meeting a telegram from the Prime Minister was read notifying the council that the unemployment loan would require the approval of the Local Government Loans Board, and that the loan expenditure would be subject to a subsidy of 50 per cent, on the wages only, based on relief rates of 14s a day. Further. that the question of extending the Act to allow of raising the loan without a poll of ratepayers would be dealt with as soon as Parliament met. Council decided to review the position in committee and on resuming in open council a recommendation was adopted deferring further consideration of the question until Monday next.
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Bibliographic details
Sun (Auckland), Volume III, Issue 692, 18 June 1929, Page 7
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204SUBSIDY ON LOAN Sun (Auckland), Volume III, Issue 692, 18 June 1929, Page 7
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