“GOING SOME”

Evening Star, Issue 23354, 25 August 1939, Page 13

“GOING SOME”

NATIONAL LEADER ON BORROWING INSINUATION AGAINST LABOUR BACK BENCHERS LOOKING TO DEBT CRISIS [From Our Parliamentary Revorter.) WELLINGTON, August 24. “ We are going some,” suggested the Leader of tho Opposition (Mr Hamilton) after he had read to the House the amounts borrowed every year since the Labour Government took office. “ No wonder,” ho continued, “ there is an air of prosperity around with this huge borrowing and record taxation collection. 1 would like the Acting Minister of Finance to tell us where he is going to get all tho money. 1 was counting the time, and he took only live minutes to explain an expenditure of £22,700,000.” Air Fraser: I thought I took too long. Mr Hamilton: The Government is much, happier when explaining its spending rather than its taxation Bill. It spreads itself on spending. Look around the Government benches this afternoon and see the interest they ate taking in a Finance Bill of this magnitude. Mr Richards; That is not fair. There are committees sitting.

The Leader of the Opposition repeated his request to be told where the money was coming from, because there were £9j million yet to be borrowed.

Mr Meachen (Labour, Marlborough); Would you ask if it was for defence? Mr Hamilton went on to declare that all this expenditure would not increase production, because it would attract men away from productive industry and private enterprise. Nothing was so certain to shake tho confidence and morale of a people as irresponsible baseless attacks on the system of finance. It was clear that a largo section of Labour members looked forward to a debt crisis that would give them the opportunity they were waiting for to bring about a collapse of the interest-paying structure.

Mr Barclay (Government, Marsden): That is not fair. _ • Mr Hamilton: Then let the Minister put ns right on this question. We would be glad to have it refuted, especially from the back benchers of the Government party, that they are not worried about debt, and that the sooner it piles up and breaks down tho better.

Mr Fraser: Quite wrong. Mr Hamilton: The Minister might be quite wise if be assured the public. Air Fraser; I cannot go on repeating the assurances I have given. I might raise doubts by giving unnecessary assurances.