March 11, 1938 (18th Parliament, 3rd Session)

CON

Richard Bedford Bennett (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. BENNETT:

I was going to suggest
the other evening, had the debate not been protracted, the question whether or not it is desirable to make the rate of interest four per cent. As a matter of fact the minister knows better than I do the great difficulty there has. been about the payment of interest at all, and the inability of the settler to pay interest either on the purchase price or the balance remaining unpaid or on advances made by the crown for purposes of providing for payment of taxes or for insurance. It does seem to me that a rate of four per cent would be an ample charge so far as soldier settlers are concerned. If such a rate were charged there might a likelihood of part of it being paid. Five per cent is really a commercial rate. If we are borrowing money at less than four per cent the rate here might well be four per cent. I intended to bring the matter to the attention of the minister the other evening, but at the time he was pressed from other sources.

Topic:   SOLDIER SETTLEMENT
Subtopic:   INTEREST RATE ON REPAYMENTS OF TAXES AND INSURANCE PREMIUMS-ARREARS OR INSTALMENTS SUBJECT TO BONUS PRIVILEGES
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