MONEY BILLS

Wairarapa Times-Age, 26 June 1943, Page 3

MONEY BILLS

SUBMITTED TO HOUSE OF REPRESENTATIVES INCLUDING TWO-MONTH IMPREST MEASURE. RATES OF LAND & INCOME TAX. (By Telegraph—Press Association.) WELLINGTON, This Day. Three Bills were introduced in the House of Representatives when it resumed at 2.30 p.m. yesterday. They were the Finance Bill (No. 2). the Land and Income Tax (Annual) Bill and the Imprest Supply Bill. The last-named, for which urgency was taken, makes provision for two months’ financial accommodation for State services, the amount involved being £13,029,000. Various subjects were raised byspeakers on this Bill and after the Minister of Finance, Mr Nash, had replied the House rose at 5.15 p.m. till Tuesday at 10.30 a.m.

The existing rates of land and income tax are reimposed for the current financial year by the Land and Income Tax (Annual) Bill. The Bill was read a first time.

BORROWING POWERS

LIMIT RAISED TO £300,000,000.

VALIDATING & OTHER CLAUSES

(By Telegraph—Press Association.)

WELLINGTON, This Day.

Authority for increased borrowing powers for war expenses is contained in a Finance Bill (No. 2), which was introduced and read a first time in the House of Representatives yesterday. The previous limitation of £lBO.000,000 is extended to £300,000,000. The Bill contains 25 other clauses of a miscellaneous and a validating nature.

Provision is made in the Bill for the payment of additional revenue from incometax into the War Expenses Account. Onequarter of the revenue received from this source during the financial year ending March 31 next is to be paid into the account.

Members of the General Assembly and candidates for election to Parliament are not to be disqualified because of their receipt of remuneration under emergency regulations before their appointment or election. The appointments of the Hon. A. McLagan and tho Hon. T. O. Bishop to 'the Legislative Council are validated. The Bill states that at the time of their appointment they were disqualified from being called to the Council as they were civil servants within the meaning of the Legislature Act, 1908. The disqualification provisions as to members of the General Assembly are not to apply to Mr Lowry, M.P. for Otaki, and Mr Endean. M.P. for Remuera. in respect of their attendance at the conference in London of the Empire Parliamentary Association. Mutual insurance associations are authorised to insure against damage by lightning. A clause exempts from income tax pensions paid in respect of the death or disablement of police officers under the Public Service Superannuation Act, 1927. Provision is made for the payment of a superannuation allowance to Mr Justice O’flegan on retirement from office as temporary judge of the Compensation Court.