AUSTRALIA

Greymouth Evening Star, 20 July 1944, Page 6

AUSTRALIA

PUBLIC DEBT.

CANBERRA, July 19. Australia’s' national debt, was £2,380,000,000 on June 30, having increased during the 1943-44 financial year by more than £380,000,000, 'lhe latest Treasury returns disclose that if the rate of Government borrowing continues, the Australian national debt, vzill reach a total of three thousand millions, in less than two years. Annual commitments on this amount for interest and sinking funds, would be nearly a hundred million, which is more than the total pre-war Commonwealth budget, and represents nearly twelve per cent, of the national income, in. the years immediately preceding the war. Revealing the Governments uneasiness about the growing debt burden, Mr. Curtin told the Empire Parliamentary Association that Australia would emerge from the war with a national debt so great that a sustained high level of productivity would be necessary to meet it. It is understood that the Government’s financial advisers have stated that the burden would necessitate domestic- price levels being adjusted upwards to carry it. GOVT. AND INDUSTRIES. CANBERRA, July 19. If the Government wins the referendum Commonwealth-controlled munition plants will be switched over to civilian manufactures. The Minister oi' Munitions, Mr. Makin, revealed this to-day in an unequivocal statement. He .said that, though no detailed policv could be announced until after the" referendum, the postwar demand for goods would be oevond the capacity of the existing private commercial concerns. He declared that a substantial proportion oi the munition plants, both Government and private plants, was capaole of turning over to peace-time require- , ments. An allegation that produc-j tion costs in the Government factories were substantially higher than in those privately-operated was a long exploded fallacy, Mr. Makin claimed. It would be grossly insquuable if the huge public investments in munitions were to be scrapped, and if the sole benefit from Australians magnificent munitions effort were io be bequeathed to the private companies, all of whom had . obtained some measure of public assistance m stepping up their manufacturing capacity and their technique. MR. O'BRIEN’S VISIT BRISBANE, July 19. Making' a comprehensive study ot transport problems, the New Zealand Minister of Transport (Mr. J. O’Brien) and the Commissioner ot Transport (Mr. G. L. Laurenson) aye now in Brisbane on their way to north Queensland. Mr. O’Brien stated he was specially interested in rubber and petrol supplies, which New Zealand drew from the same poo 1 a?; Australia. His Government desired that allocation should be equitable in comparison to the respective populations and essential undertakings. Transport in New Zealand, said Mr. O'Brien, was highly organised and rationalised to prevent the duplication of running and manpower waste. The zoning scheme had saved an enormous amount of petrol, tyres, anu| labour, and was generally ouite acceptable to the people, w?.s ahead of New Zealand in regard to charcoal burners because of fuel advantages with hardwoods. As Minister of Marine. Mr. O is also investigating harbour project? with the idea of gaining information for the formation m Whom:-, m Greymouth and Westport. FRENCH ReFrESENTATI VR CANBERRA. July 20. In the House of Representatives, Dr. Evatt announced that a representative of the French National .Committee of Liberation, with diplomatic status, would come to .Australia soon. Australia was bound to recognise French sovereignty, oyer Ney/ Caledonia. Australia's vital interests there could be protected only by cooperation with France. IMMIGRATION POLICY • CANBERRA, July 20. The White Australia policy was attacked by a Labour member, M.r. James, who declared that he was not concerned with any political repercussion that might arise from his statements. Australians, he said had been willing to have people oi ml colours fight in their defence, ket under the White Australia policy such, people might not live here —though they might shed their blood in defence of this country. Mr. James added that German cnildren might be brought to after the war. There are already indications tnat the brief Parliamentary session is drawing to a close. Several Opposition members have attacked the Government’s referendum proposals. Mr. Spender, member of the War /advisory Council, said that voters should have been allowed to grant certain powers and exclude others, instead of having to accept or reject all the fourteen power sought.