ECONOMIC RECOVERY
FURTHER PROGRESS DURING YEAR. GENERAL PROSPERITY NOT UNATTAINABLE. (Spoeiol to tho Times.) WELLINGTON, June 12. An optimistic note was struck by Sir G. Elliot at the annual met ting of the Bank of New Zealand to-day. “Further progress towards economic recovery has,”, ho said, “been made during tho year. Trade has been more active. The yield from sales tax shows an increase of 13.7 per cent, over the previous year. Building activity is greater. Unemployment. figures have been reduced. On provisional figures, the Dominion internal revenue for the year was £26,170,000 (exceeding estimates by £430,000), and expenditure £25,900.000, giving a surplus of £270.000. “May I, emphasise, by no means for the first time, the urgent necessity of facing tho fact that for New Zealand tho United Kingdom is practically its only market, If due regard is paid to tho manifest, advantages pertaining to a closer reciprocal trade relationship with the Mother Country, and if that reciprocal trade relationship is wisely fostered, New Zealand, with its genial climate and fertile soil, should find that general prosperity is not unattainable.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GIST19360613.2.35
Bibliographic details
Gisborne Times, Volume LXXXIV, Issue 12887, 13 June 1936, Page 6
Word Count
180ECONOMIC RECOVERY Gisborne Times, Volume LXXXIV, Issue 12887, 13 June 1936, Page 6
Using This Item
The Gisborne Herald Company is the copyright owner for the Gisborne Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.