PROSPERITY GROWTH

Press, Volume CVI, Issue 31211, 8 November 1966, Page 8

PROSPERITY GROWTH

—H. R. Lake (National) I have been privileged to have been the Minister of Finance. I have endeavoured to act with a sense of responsibility along with my colleagues in our efforts to bring about the fundamental changes which have been made during the last six years. These changes have resulted in the remarkable economic development which we see all around us. All sections of the community have shared in the remarkable growth of prosperity. Gross national production rose between the time we took office and the end of last financial year by about

£570 million—a rise of over 43 per cent, compared with the last year of office of the previous Government. It will have risen again this year. Salaries and wages represented most of the increase, the rise being £315 million. Although New Zealand has never been more prosperous, a sound foundation has been laid for the future. We have not been living beyond our income. To provide for the future it is necessary that the people save and invest. This thev have done.

In 1965-66 capital formation at 27.6 per cent of national production was the highest ever recorded in New Zealand, both in total value and as a proportion of national production. The National Party’s aim is to foster the growth of a society which not only is prosperous but which provides adequately for the development of all human talents in the arts and sciences. Security

The National Government has acted to give meaning to our collective security arrangements by, amongst other things, contributing to the defence of Malaysia. We have also contributed a combat force to the defence of the people of South Vietnam against communist aggression. I am confident that in this action the Government has the support of the great majority of the people of Fendalton.

The people of Fendalton can be assured that if they help return the National Government to office our achievements will be matched by our future performance. The Government does not claim the credit for what has been done by the people to

build their country and to defend it. We claim credit only for providing the political, economic and social environment which has enabled them to do these things for themselves.