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Tuesday, 30 April 1957

Mr Bryant t asked the Minister representing the Minister for National Development, upon notice -

What have been the financial operations of the War Service Homes Division in each year since its inception in the following categories: -

(a)   amount allocated from loan funds, (b) interest payable on loan funds, (c) amount allocated from taxation, (d) administrative expenses of the Division, (e) repayments of principal, (0 repayments of interest, (g) number of houses in the scheme, (h) excess of repayments of interest over administrative expenses of the Division, and (i) totals in each case?

Mr Roberton - The Minister for National Development has supplied the following answers to the honorable member's questions: -

The details requested by the honorable member are set out in the attached schedule. The interest payable on loan funds as shown in column

(b)   represents the average interest rate in respect of war loans at 30th June each year. These have been taken from the budget figures published by the Treasurer. The amount allocated from taxation as shown in column (c) comprises £193,330,356 voted from Revenue and £9,310,458 from War Service Homes Receipts. In addition to the total number of 147,305 homes provided under the War Service Homes Act as shown in column (g) the Division had taken over 770 homes under the Commonwealth-State Supplemental Housing Agreement up to 28th February, 1957. The total liability taken over by the Division from the States in respect of the 770 homes is £1,793,816. This is not included in the funds allocated as shown in columns (a) and (c). Repayments by the purchasers of these homes are reflected under Repayments of Principal and Repayments of Interest respectively in columns (e)> and (f).


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