NOT LANG’S BRAND

Dominion, Volume 30, Issue 192, 11 May 1937, Page 9

NOT LANG’S BRAND

New Zealand Socialism LONDON PRESS COMMENT By Telegraph.—Press Assn.— Copyright. London, May 9. “Investors may wholeheartedly accept the asurances of the Prime Minister of New Zealand, Mr. M. J. Savage, and the Minister of Finance, Air. W. Nash,” says the "investors Chronicle.” . "The Ministers’ statements banish fear that New Zealand Socialism is a cousin of the Socialism Mr. J. T. Lang brandished during his brief and inglorious reign in Australia. ".Mr. Savage and Mr. Nash are true to the Socialist doctrine of generous expenditure for public works, which have been substantially increased, and as New Zealand is not a large country conservative financiers might prefer to reduce their outlay,, especially as prosperity has returned to the Dominion, and funds would possibly be more valuable if they were retained for use when prosperity lias waned. "However, the general movement of New Zealand economy demonstrates that if Mr. Savage's Government is too generous, in the opinion of some people, there is at present no anxiety regarding the Budget, Although increased expenditure may be unpopular with the taxpayers, it does not suggest that the country's finances are seriously over-strained. "It is encouraging that income lias improved not only because prices have risen but mainly because output has increased, while if site is anxious regarding the future debt service, Britain can largely alleviate fears by generous tariff revision at the Imperial Conference.”