ARBITRATION BILL CONDEMNED.

Press, Volume LXVII, Issue 20333, 4 September 1931, Page 11

ARBITRATION BILL CONDEMNED.

SOVIET PRINCIPLES

SELECT COMMITTEE'S REPORT. (CXiTBD PRESS ASSOCIATION —11V ELECT.RIO TELEGRAPH—COPYfiiaHT.) (Received September 3rd, 9.30 p.m.) SYDNEY, September ". The Select Committee of the Legislative Council, which enquired into the Amending Arbitration Bill now before Parliament, reports that the Bill is a most one-sided pieca of legislation. It is saturated with Soviet principles and reeking with flagrant injustices. Therefore it would havo a most disastrous effect on all industries. The Committee recommends tho exelusion of all rural workers and domestic servants from tho Bill. It also suggests other amendments in the direction of enabling industry to function as far as possible normally. Tho report adds: It would bo absolutely futilo to expect a revival of industry under the provisions of this Bill.

INDUSTRIAL AWARDS. EMPLOYERS SEEK TEMPORARY SUSPENSION. .MELBOURNE, September 3. Employers' organisations aro meeting at a conference next week. They arc formulating a request to all Governments for tho temporary suspension of State Industrial Awards or such awards as arc hampering trade and commerce. Representatives of Chambers of Commerco and manufacturers argue that many businesses and industrial concerns aro in such u parlous state that they must havo immediate respite from industrial restrictions. The alternative), tlioy claim, will be collapse, and much additional unemployment.

ECONOMY IN AUSTRALIA. PREMIERS' CONFERENCE. FEDERAL AND Si'ATE DEFICITS. SYDNEY", September 0. Tho "Sydney Morning Herald'' says that the Mclbourno Promiers' Conference considered, iu an atmosphere of uncertainty and pessimism, the financial position of tho Federal and State Governments with respect to tho economy plan. It was realised that tho aggregate of Government deficits for this financial year will be so much in excess of the £15,000,000 which the banks agreed to meet that the economy plan on its present basis will be a failure. It is understood that the aggregate additional deficits for the financial year will, be approximately £3,000,000. From the general trend of discussion it seemed that the Premiers felt that the banks will havo real difficulty in finding additional credit, and resort would hays to be made to a further effort to rostrict expenditure and increase revenue. Tho great difficulty of imposing further taxation is recognised, but the Premiers are inclined to take tho view that if further sacrifices are needed there should be no hesitation in asking for them.

SAVINGS BANK RE OPENING.

NEW INTEREST RATES

SYDNEY, September 3,

The Commissioners of the Government Savings Bank have decided that interest rates for the new business division of tho Savings Bank will be 3$ per cent, op to £SOO, and 3 per cent, from £SOO to £IOOO.

Friendly societies' accounts will be allowed 34 per cent, on all balances up to the amounts approved. Deposits on Monday or Tuesday next will carry in-' terest for a full month. There will bo no fee for keeping accounts in tho rural bank and new business divisions up to the end of December, 3931.