FINANCE FOR FUTURE DEVELOPMENT

Dominion, Volume 36, Issue 308, 23 September 1943, Page 8

FINANCE FOR FUTURE DEVELOPMENT

N.Z.’s Post-War Problems MR. LANGSTONE OUTLINES HIS POLICY

Dominion Special Service.

TAII I.A PE, September 22. Outlining part of his policy in an election address in the Ractibi Theatre last night, Mr. F. Langstonc. Labour candidate for Waimarino, emphasized that such a comprehensive programme would take years to be fully achieved, but it was imperative that the purpose and procedure should be accepted by the people and approved by them. "This is the essence of democratic government.” Mr. Langstone added. "The propositions arc complementary to our existing economy and become a necessary part of our reconstructive policy, so that, step by step, we can proceed to give effect to a fuller life for all ami provide all essential services and amenities.” The candidate said that planning for peace and the reconstruction of New Zealand, in common with other nations, demanded knowledge, careful planning and determination. In New Zealand the problems were twofold in character —external and internal. In the first place the Dominion was a large exporting country of primary products. It was essential at tile outset that an agreement, be arranged with the United Nations so that there would be an assured future market for all exportable surplus products. It was therefore the first duty of the Government to formulate plans and blue prints for the achievement of this purpose. Having accomplished the first essential. plans could then be made for the economic reconstruction of New Zealand’s internal economy. Though rich in many ways, with fertile lands and a mild and temperate climate, "New Zealand was in short supply of many necessary raw materials such as rubber, oil, iron, copper. zinc, tin and nickel. It was only through the avenue of trade exchange that the country was able to gain access to these important commodities. Given a guaranteed market for all surplus exports at. relative equivalent values, New Zealand would be free to go full steam ahead with home construction. “AA’c require 50.000 bouses for our people, and to build these and other necessary and industrial buildings both trained manpower and materials are required.” said Mr. Langstone. “Here is an immense opportunity for the training of carpenters and allied tradesmen to cope with the work on a scale commensurate with our national needs.” Getting the Money. After stressing the need for the expansion of secondary industries in New Zealand, the speaker said it might be asked where the Government was going to get the money to carry out all these things. His reply would be simple. "This year.” ho said, "we have budgeted for the spending of £148.000.000 on war. Of this £148,000.000. only £12.000.000 is provided for under the memorandum of security agreement in London, and £40,000.000 under lend-lease from the U.5.A,., while our reverse lend-lease is going to cost ns £20.000.000. AA’itli the deduction of £12.000.000 and £20.000.000, this leaves a sum of £16,000,000. which we are finding in New Zealand and which will be spent here ’for war purposes.

"Now. if we earmark £1.16,000.000 a year for a period of years for national undertakings then, through the spending of this vast amount of wealth on reconstruction and development works, surely it: is reasonable to determine that this will .add to our capital and consumable wealth and enrich the nation. It is very problematical whether the vast sum of could be spent in one year on all tlie various undertakings embarked upon in oiir programme of reconstruction.”