STATE TRADING

Ashburton Guardian, Volume 53, Issue 273, 30 August 1933, Page 7

STATE TRADING

NEW SOUTH WALES POSITION. NEW ZEALANDER'S IMPRESSIONS (Per Press Association). WELLINGTON, August 29. Commenting on the relationship between New Zealand and New South Wales State trading, Mr A. S. Burgess (president of the New Zealand Associated Chambers of Commerce), who returned to-day from a visit to Australia, said he had- been particularly struck with the evidence in New South Wales or the swing away from State enterprise. • The industrial • undertakings now operated by the New South Wales Government, apart from railways, tramways and motor 'buses, were mainly the residue of a largo number established by the various Labour Governments of 1911 onwards. The majority of these enterprises had proved complete financial failures and had been abandoned. During the prosperous constructional years before 1929, the £tate brick works, the Monier concrete pipe works and the State metal quarries in New South Wales had been conducted at a considerable profit, due largely to preferential privileges in the supply of Government works, partial or complete exemption from taxation, and similar advantages over private enterprise, continued Mr Burgess. In 1932, however, the Monier pipe works was the only one of the three disclosing a profit. Until 1930, State industrial undertakings had not been subject to income tax; but legislation that year had directed as assessment of those concerns on taxation in respect of transacted business.

The trading results of the State industrial undertakings which were still operative for the year ended on June 30, 1932, were: £ Brick works (loss) 8,629 Monier pipe works (loss) ...... 7,899 Metal quarries (loss) 2,082 Govt. Tourist Bureau (loss) ... 24,405 Leeton canning factory (loss) . 17,254 Lithgow coal mine (loss) 112,000 Dockyard and engineering works (loss) ■ 70,145