Sacrificing Future Standards

Press, Volume XCVI, Issue 28447, 29 November 1957, Page 14

Sacrificing Future Standards

Is this sacrifice of future living standards necessary? How many New Zealanders today are in want through no fault of their own? One of Mr Nash’s lieutenants has some misgivings about mortgaging the future, expressed appropriately enough in discussion of the “ baby ” loans. Mr Nordmeyer told an Auckland meeeting that some systeifi of priorities might have to be introduced for these loans. Mr Nordmeyer has also been much franker about the need for physical controls under the Labour policy. It would be a good thing for political Labour in the long run, as well as for the country, if Mr Nash and Mr Nordmeyer were spared the embarrassment of trying to put their policy into effect. If it is true that electors do not choose new governments but put old ones out, the National Party should feel confident of its prospects. After eight years it is a younger and

abler Government than it has ever been. It has a record of sound national management, illustrated by its success in keeping down the cost of living better than almost any other country in the last three years. The expansion of the economy under its direction has enabled it to improve State services while continuously reducing the rate of taxation. The widening tax base has brought in greater revenue but still allowed tax savings of about £64 million in the last eight years, which may justify the Government’s own modest election promises estimated to cost about £ 8 million. The whole community has benefited from the encouragement given by the Government to enterprise and thrift. New Zealand has never been more prosperous than in the last eight years. The electors can help to keep it that way by voting National tomorrow—by preferring the substance to the shadow.