GREAT RECORD OF LABOUR GOVERNMENT

Grey River Argus, 15 November 1949, Page 4

GREAT RECORD OF LABOUR GOVERNMENT

Australian Premier’s Policy Statement Nation’s Prosperity Is Universal (Rec. 10.40). SYDNEY, Nov. 14. “When, after five years in office, the Labour Government of Australia went to the people in 1946, there were no glittering promises”, said Rt. Hon. J. B. Chifley, Prime Minister, in a broadcast speech to-night, when he outlined the policy of the Australian Labour Party. “A straight, honest undertaking was given that the Labour Party, if returned, would do everything possible to make Australia a better place for all Australians. It is my duty to show you how that undertaking has been kept, and to say simply: If you return the Commonwealth Labour Government, it will continue to carry out that pledge”.

The Labour Party’s policy and its platform was known to all of the people—whether it dealt with Social Security, with shipbuilding, with banking, or with help for Britain, he said. “False and malicious statements are being circulated to the effect that the Labour Party intends to nationalise farms and shops, and homes, and all industry”, continued Mr Chifley. “Such statements are complete and utter untruths! The Labour Party has no desire —and no plan—to do anything of the kind; and, moreover, it could not do anything of the sort under the Australian Constitution. The Labour Party, and I. personally, have always held,' as our fundamental objective, the betterment of the people.

“Many of you will remember the period of the ’thirties, when the banks and the Bank Board decided that the only way to restore financial stability was to reduce wages and to reduce pensions, and when they advocated measures that resulted in hundreds of thousands of breadwinners being thrown on to the pitiful dole!

“We are determined that this shall not happen again! The Labour Party feels that it has a sacred responsibility to see that all sections of the communitv receive justice, and that the less fortunate section of the people has protection from want, or unemployment, and has security. “We affirm, for every man, the right to receive a fair return for his labour, enterprise and initiative”, continued Mr Chifley. “But we do say that it is the duty and the responsibility of the community, and particularly of those who are more fortunately placed, to see that their lessfortunate fellow citizens are protected from those shafts of fate which leave them helpless, and without hope”. He asked that the Labour Party should be judged on its record, and on its ability to go on with the job. Through the past eight years, the Labour Government had gone far towards achieving social and economic security for the people: higher living standards; and also the progressive expansion of Australia, as a nation, in the world community of nations. Their economy had been strengthened against the possibility of depression. Their wide system of social services now offered protection to the individual against the misfortunes of unemployment, of sickness, and also old age. Great headway had been made with their migration programme, he said; and huge developmental projects have been put in hand so as to open up new resources, and to provide the foundation for the expansion of all kinds of industries. Labour had shaped all of its financial and economic measures towards the maintaining of full employment, and Labour would continue to shape them so. Nearly everywhere else, today, there was shortage, rather than a surplus, of employment. At present however, nearly 750,000 more people are at work in Australia than there were in 1939. Labour rejected the barbarous theory that discipline and efficiency could not be maintained unless there was a degree of unemployment ! In recent years their financial reserves, held overseas, had been built up to total over four hundred and fifty million pounds Australian, as a buttress against adversity. The Governmental debts of the country had been reduced, in the past eight years, by one hundred and seventeen million pounds. 1 He recalled that the Labour Government has negotiated with the British Government a number of longterm contracts, covering meat, dairy products, sugar, eggs, and dried and canned fruits. The international wheat agreement negotiated was also a valuable contribution to their stability.

An index of prosperity, said Mr Chifley, was provided by the fact that the savings bank deposits in Australia have trebled since the year 1939, rising from 245 million pounds t0'720 million pounds. Since 1945, the maximum interest rate for overdrafts had been fixed at four and a-half per cent. As a safeguard against unemployment, the Commonwealth and the State Governments had co-operated in the building up of a large reserve of constructional works. During the war the Commonwealth expenditure rose above six hundred million pounds yearly, and the Government had had to borrow heavily from the public and from the Commonwealth Bank. Since that time, tax reductions had been made which, on the present income levels, would be valued at 280 million pounds a year. Large war accounts, including the Lend-Lease settlement with the United States, had been met. He stated that one hundred and eight million pounds had been found for interest and sinking fund on the debt arising from the war.

Gifts totalling forty-five million pounds had been made to Great Britain. Contributions worth thirty-two million pounds had been made for the relief of the victims of the war overseas.

Mr Chifley said that one hundred and thirty-two million pounds had been paid in subsidies to keen down the cost of living, and to assist the primary producers. The post-war defence programme had been pushed forward, and great national works had been undertaken in the fields of the post office, of power development, and of civil aviation.

The social service expenditure had been increased from under eighteen million pounds a year before the war to an estimated one hundred million pounds a year now. In addition, the National Welfare Fund had been built up to one hundred million pounds. Notwithstanding these great measures, it had been possible, during the last two financial years, to balance the national budget. Mr Chifley said that, on the basis of the present incomes, the direct and indirect tax concessions made by the Labour Government were worth near-

ly three hundred million pounds a year to the taxpayers, of which fortysix million pounds in concessions have come into force this year. Referring to banking, the Prime Minister said: “The Government has the responsibility—which it will uphold to the utmost of its power—to ensure that our resources of money and of credit are used to the best advantage of the community. It will proceed with its policy of expanding the services of the Commonwealth Bank, to provide an efficient and comprehensive system of banking”. The Government had strengthened the forward movement of the national economy by expanding the key industries and by introducing the immigration scheme on a scale never attempted before. Though industry was, primarily, a field for private enterprise, the Government could assist it by providing basic works to open up resources, and to give transport, power and water. In co-operation with the States, the Government had sponsored seven hundred and forty-three million pounds worth of essential works. Since Labour took office, the number of factories in Australia had increased from twenty-seven thousand to over thirty-seven thousand. The defence programme was costing two hundred and ninety-five million pounds over five years. It was essentially based on co-operation with Britain as the heart of the British Commonwealth.