WAR DAMAGE PREMIUM

Wairarapa Times-Age, 3 February 1943, Page 3

WAR DAMAGE PREMIUM

NO REDUCTION YET. CAUSTIC COMMENT. (By Telegraph—Press Association.) WELLINGTON, This Day. The Government does not feel justified in making any alteration at’present in reducing the amount of war damage premium. The Prime Minister, Mr Fraser, has advised the Associated Chambers of Commerce to this effect, and his letter was read to last night’s meeting of the Wellington Chamber of Commerce council. Mr Frasers letter further stated: “I think, as prominent members of the business community, that members of the chambers of commerce generally appreciate the high f value of goods and property at risk, particularly in the main ports. The total amount in the War Damage Fund is in the vicinity of £1,500,000 at present, and in view of the heavy risk involved, this amount does not represent a reserve sufficient to justify a reduction in the premium. The chambers’ views will be kept in mind when any further consideration is being given to this subject.” The chairman, Mr A. L. Wall, said this reply was accepted at the associated chambers’ executive meeting recently. He thought Mr Fraser should state what amount would provide a sufficient reserve to warrant a reduction. Mi - N. S. Hunt: The reply is just another case of brushing us off. If a rate of 5 per cent, was required in December, 1941, the improvement in the general situation recently reported indicates a case for a reduction.