HARD AT WORK.

Auckland Star, Volume LXII, Issue 193, 17 August 1931, Page 7

HARD AT WORK.

TREASURY OFFICIALS.

British Economy Scheme in Preparation.

I©. MacDONALD HAPPIER.

(British Official Wireless.)

{Keceived 11.30 a.m.) RUGBY, August 16..

Although the Cabinet Economy Committee adjourned from Thursday unti l Monday, there has been no slackening of the preparation of plans to deal with the financial emergency.

The members of the committee on holiday in different parts of the country are examining Treasury memoranda and other Departmental reports on the various proposals under consideration. •fte Chancellor of the Exchequer, Mr. P. Snowden, in particular, is keeping in close touch with the Treasury. By the time the committee reassembles Monday afternoon, it is hoped that the proposals in some detail will be ready for consideration. The scheme approved by the Cabinet will -probably be the subject of discussions with Mr. Neville Chamberlain for the Conservatives, and Sir Herbert Samuel for the liberals. If there is an indication that the Opposition parties are prepared to give the proposals their general support, Parliament will be summoned probably next month. The political correspondent of the "Daily Telegraph" says he thinks that when Parliament is summoned two measures will be introduced, one in the nature of a second Budget providing for new taxation, the other an Economy Bill providing for cuts in expenditure. Mr Mac Donald, in an interview at lossiemouth, said he felt happier about the situation. He had no doubt that the nation could pull through, but it must be steady and must not listen to anything panicky.

The Government meant to take action and was facing the situation, which was not due to its financial methods, or because anything was wrong with the country, but was the result of bad world, trade conditions.

Everybody would be asked to help to tide the country over the difficulties while trade was reviving. The supplementary burdens and cuts in expenditure would be the smallest possible consistent with balancing the Budget.