'NOTHING TO TELL'

Auckland Star, Volume LXIV, Issue 21, 26 January 1933, Page 11

'NOTHING TO TELL'

NATIONAL POLICY.

PRIME MINISTER'S SILENCE.

FACING ECONOMIC STORM.

(By Telegraph.—Parliamentary Reporter.)

WELLINGTON, Wednesday.

There seems to be reason for doubt as to whether Cabinet has formulated any plan apart from increasing the exchange rate for assisting the Dominion to weather the economic storm. It is certain that no information as to any other steps was given to the Coalition caucus, a minority of which oppose an artificially high rate of exchange.

Asked if it was the intention of the Government to do anything for other sections of the community who do not earn their livings directly from the land, the Minister of Finance, Mr. Coates, declared that the increase in the rate of exchange was only the first step of the Government's policy, but he refrained from giving definite information as to further proposals.

At various times during the two-days' caucus meeting reference was made by Ministers to further measures such as an overhaul of the Customs tariff, rebate on county rates, further interest reduction, conversion of local body loans domiciled in New Zealand and the imposition of a sales tax, but when a direct question was asked concerning any of these inquirers were told that Cabinet had not yet reached a decision on the matter.

Cabinet held a lengthy meeting tonight, but the Prime Minister refused to be drawn as to what the Government proposed to do in respect of any of these questions. "We were just fixing up routine business," he said.

"If you took the public into your confidence it would help to restore confidence in the Government," the Prime Minister was told.

"Yes, and an enterprising reporter would l>e able to get advance information," he replied. "No, I've got nothing to tell you."

Other Minieters concurred in the policy of silence adopted by Mr. Forbes, but colour is lent to the theory that the urgent legislation necessary to idemnify the banks is not ready yet by the fact that the acting-Secretary to the Treasury, Mr. G. C. Rodda, and the Crown Law Draughtsman, Mr. J. Christie, were closeted for some time with the Minister of Finance this evening.

Further evidence to support the contention that the Government is not yet ready to meet the House is to be found in the fact that the Prime Minister has not yet made up his mind as to when he will deliver his policy statement to the House. It is anticipated on all sides that he will outline the present situation tomorrow evening, but this evening he said that lie was not sure and the House might not get down to real business before Friday.