“SAVAGE, NASH BANISH BRITISH FEARS"

Northern Advocate, 10 May 1937, Page 5

“SAVAGE, NASH BANISH BRITISH FEARS"

N..Z Socialism Not Cousin

Of Lang Type

(Received 1 p.m.) LONDON, May 9,

. . “Investors may whole-heartedly accept the assurances of Mr Savage and Mr Nash,”. says the “Investor’© Chronicle.” “The Minister’s statements banish the fear that New Zealand Socialism is cousin of the Socialism'which; Mr Lang brandished during his. ; brief and inglorious reign. ’

■ “Mr Savage and Mr Nash are true' to the Socialist ..doctrine of generous; expenditure on Public Works, which have been substantially increased, and, as New Zealand is not a large country, conservative financiers might prefer a reduced outlay, - especially as prosperity 'has returned' to the Dominion and funds would possibly be more valuable if retained for use when prosperity, waned. c • • “ ‘ ; ; . “The general improvement of . :New Zealand economy demon-: stfales that if the Savage Govern- ‘ : mentis too generous in the opinion of some people, there is at present no anxiety regarding the Budget. >• “Although ■ increased expenditure may be unpopular with taxpayers, it does hot suggest, that the country’s finances are seriously overstrained. It is encouraging that income has improved, riot only because prices have risen, but mainly output has increased, while, if we are anxious regarding the future debt service, Britain can largely alleviate fears by generous tariff revision at the Imperial Conference.”