LABOUR POLICY

Dominion, Volume 24, Issue 18, 16 October 1930, Page 11

LABOUR POLICY

Startling Resolutions FEDERAL PARTY Nationalisation of Banking By Telegraph—“ress Association —Copyright (Rec. October 16, 1.15 a.m.). Melbourne," October 16. The Federal Executive of the Australian Labour Party concluded an important conference to-night, announced a series of startling resolutions, favouring nationalisation of banking and insurance opposition to wage-reduction, utilisation of the nation’s credit for the stimulation of industry, and the liquidation of loans, a reduction of interest on bank credits, and negotiations with Great Britain concerning Australia’s war indebtedness. An official statement accompanying the resolutions set out that the executive was faced with conditions ui precedented in the history of Australia, and it was necessary for the Labour movement to act in complete unison in order to protect the interests of the masses of peoples whose standards of living were being attacked by mercenary, unscrupulous employers. The executive called upon the Federal Labour Government to give early effect to the party’s platform, especially those planks relating to banking and insurance. Strong condemnation was expressed of Sir Otto Niemeyer’s policy. It was decided to cable the resolutions to Mr. Scullin, the Prime Minister.