DEBT CONVERSION

Nelson Evening Mail, Volume LXIV, 25 June 1931, Page 5

DEBT CONVERSION

PROGRESS OF BILL LABOUR MEMBERS AGAINST PLAN GOVERNMENT DEPENDENT ON OPPOSITION VOTES (United Press Association—By Electric Telegraph—Copyright) CANBERRA, 24th June. As the Debt Conversion Agreement Bill progresses in the House of Representatives more and more members of Mr Scullin’s party declare themselves uncompromisingly against the rehabilitation plan, of which this measure is tire first instalment. It is believed that when the vote is taken the Government will require the full support of the Opposition in order to carry the day.

ANOTHER MINISTER RESIGNS CANBERRA, 24th June. The Prime Minister announced the resignation of the Assistant Minister, Mr C. E. Cullev on the grounds that he was unable to support the economy plan. His objections were similar to those of Mr Holloway’s, who recently resigned from the Ministry. (Mr E. J. Holloway, Assistant Minister of Industry in the Federal Ministry resigned, as he was strongly opposed to the Premiers’ Conference economy plan. He wrote to the Prime Minister saying that lie had no sympathy with a reduction in pensions. He believed that the only way to revive the Australian position was by the issue of fresh credit through the national bank.)

SALES TAX TO BE INCREASED (Received 25th June, 9.40 a.m.) CANBERRA, This Day. Mr Theodore stated that after the present emergency Bills were passed by the House, a Bill to increase the sales tax would be introduced, and would probably operate from 31st July. labourUltimatum TO VICTORIAN MINISTERS MELBOURNE, 24th Juno. The State Labour executive sent an ultimatum to the Premier, .Mr, Hogan, and also to Mr Jones. Minister of Public Works, that unless they opposed reduction of wages and pensions under the Premiers’ Conference financial plan their endorsements as Labour candidates would be cancelled. It is reported that other Labourites in the Victorian Parliament contemplate supporting the conference plan, in which case their endorsements will be withheld in the event of a crisis, which is regarded as inevitable.