Aggregation Charge Laid Against Reform

Sun (Auckland), Volume III, Issue 743, 16 August 1929, Page 10

Aggregation Charge Laid Against Reform

“TOADIED” TO INTERESTS

MR. POLSON WITHDRAWS (THE SUN’S Parliamentary Kcporlcr) PARLIAMENT BLDGS., Tliurs. The claim that Reform had “toadied" to the vested interests of both town and country was made by Mr. W. J. Poison in the House of Representatives last evening. He had to withdraw the word, but went on to criticise Reform actions in regard to allowing land aggregation. After saying that the country as a whole, and even one leading Reform newspaper, accepted the Budget as being on the right lines, Mr. Poison said that Reform had “toadied” to vested interests in both towns and country'. Mr. Speaker: Did I understand the hon. gentleman to say “toadied?” Mr. Poison: I withdraw that word, sir, I realise that it was unparliamentary. He went on to say that Reform had juggled with rural bonds, and that was one way in which it had considered vested interests. He believed we had, and still had, an officer at the head of the Treasury who took upon his shoulders responsibilities that he should not have. His advice must have swayed the late Minister of Finance, and he hoped that it would not sway the present Minister too much. Then Mr. Poison went to the subject of land aggregation, which, he said, had gone on and w x as going on. The Government was moving in the right direction of cutting land up. To listen te Mr. D. Jones (Mid Canterbury) no one would dream that the super-tax began at £12,500 and meant, tax on land, in the North Island, at any rate, of mostly £25,000 improved value. Such farmers would not be affected by the tax. Then lie went on to quote cases in which exemption should be given on account of hardship. He said that he had had a number of letters on the subject, and-read the figures of one case, of an old settler, who would be hard hit by the tax. This man, and his partner, had bought 2,834 acres in 1914 at £l2 13s 6d an acre. The land-tax was £lO5 then, but with revaluation there w'as an increase of 100 per cent, and the land-tax became £217. The unimproved value was £24,000. There was a heavy mortgage of £38,550 and the equity in the holding was £9,600. Rates and taxes totalled £709, and the mortgage interest £1,927 10s, making the total charges £2,636 10s. This meant the equity had to produce more than 25 per cent, before the man could pay his way, which was economically impossible. Therefore, Mr. Poison suggested than, if legislation were to be framed for the tax, there should be inserted a hardship clause for cases such as this. Otherwise many hardworking farmers would be driven off the land.

NEW ZEALAND APPLES (Australian and 2V 7.Z. Press Association) Heed. 10 a.m. LONDON. Thursday. The Huntingdon’s Hew Zealand aoples a ® ood demand—Yates, 19s to 20s; Statesman, 15s 9d to 22s 6d’ Doughertys, 37s 6d to 225; Granny Smiths’, 3os to 22s 6d; Edlipps. 16s 3d to IPs 6dSturmers, 14s to 21s 6d; Ballarats, 11s to 19s 3d; Delicious, ISs 9d to 21s. WHEAT, FLOUR AND PULSE (Australian and N.Z. Press Association) (United Service) Reed. 11.47 a.m. LONDON, Thursday. Wheat.—Cargoes are in quiet tone 3d to 6d higher. Parcels are he] dfor an'advance of 6d. Futures: London, August, October, November, 54/5; January, 55 1-8. Liverpool, October, 9/10; December, 10/1 3-8; March, 10/5. The spot trade is easier. Australia, ex ship, 53s 6d. Flour is easier. Australia, ex store, 37s 6d to 3Ss. Barley is dull. Australia, Chevalier, ex store, 41s 6d to 44s 6d. Beans and peas arc quiet.