NEW PARTY'S POLICY.

New Zealand Herald, Volume LVIII, Issue 17843, 26 July 1921, Page 6

NEW PARTY'S POLICY.

SPEECH BY MR. STATHAM.

THE SEDDON TRADITION.

GENERAL SUPERANNUATION PLAN.

The platform of the Progressive Liberal and Moderate Labour Party was expounded at a meeting in Wellington last week. It was a\ private gatherin? of about 300 friends and sympathisers, a report being issued subsequently by the executive.

The chairman, Mr. Dunbar Sloane, said the object of the new party was to continue the work of the late Mr. Seddon. He referred to the advantage which the party had gained by securing the leadership of Mr. C. E. Statham, M.P., whose honesty and integrity were guarantees that the course the new party would pursue would justify the motto that it had* assumed, namely, " Common good to aIL" Elective Executive and State Bank.

Mr. Statham said he made no apology for the introduction of this party into the political ranks of the Dominion, as he was convinced its policy would mean a great advantage to the country, and be a solution of many of the troubles under which we were *ow suffering. At the same time he was not claiming an exclusive right to any particular plank in the platform. There was, however, one unwritten plank to which he wished to refer at the outset. That unwritten plank was loyalty. "All we wish to attain," he said, i? "we wish to attain by constitutional means. Bonds of affection and loyalty are a sine qua non to our existence"."

He referred briefly to the first plank in the platform,- the elective executive. As to the second, reform of the Legislative Council, Mr. Statham said that the new party did not desire to abolish the Upper House, but to reconstruct it on the basis of introducing experts in science, commerce, finance, and law, and with a membership of perhaps about 15. On the third plank of the platform, namely, State bank, he pointed out that at present there were six banks operating in the Dominion, only two of which wer« incorporated -here. He gave figures regarding the taxes paid by the Bank of New Zealand, and referred generally to the finance T>f the country in relation to the industries of the country. He claimed that the primary object of a State bank would be to run the bank business in the interests of the country. He instanced the institution of the Commolwealth Bank in Australia, and gave a brief summary of-its progress and success, despite difficulties. State, Employer and Worker. He then dealt at length* with the party's superannuation scheme, and stated that this was the principal item in the party's programme. . The foundation of the scheme was laid in the taxation of the Wages Bill in the Dominion— the. employee contributing 2£ per cent, of bis wages, the employer supplementing it by 2£ per cent., and the State subsidising it by another per cent. This tax would be collected quarterly, and used reproductively over a period of six years, when they would aorive at an accumulated capital of approximately £41,000,000. The interest on this capital sum would result in a net annual return of approximately £2,500,000, which with the annual' contributions would permit the Government to pay out to 80,000 annuitants the. £100 each per annum, and still leave a margin which could be devoted to supplementing the present miserable allowances to widows, and make some provision for the blind aud .incapacitated. Mr. Statham said he did not care if the present Government took up the scheme, and 'carried it through, as the main object of the new party was to get things done irrespective of who did them, but he made a special appeal to the country to consider the necessity for removing the spectre of poverty from all workers, so that they could bridge that gulf which now unfortunately existed between Capital and Labour. Some papers say, said Mr. Statham. that we are out to bribe the workers of the country. He did not consider this fair criticism, because, while offering this scheme of superannuation they were demanding of the workers something in return. We had no right to have strikes or lock-outs in this country, and the new party recognised that to solve the many difficulties it was necessary to offer the workers some tangible advantages wliich would ensure their co-operation.

Ambitious But Practicable.

Mr. 'Statham said that at a public meeting in August he would still further elaborate the principles of the new party. However ambitious the programme might appear, it was emineutly practicable, and the result of years of very close study of the industrial and commercial position of the Dominion.

Mr. E. Kellett. tbs only other member of Parliament associated with the party, said the worker in New Zealand had constantly before him one great nightmare— old age. Under our present system he must be a pauper before he could claim an old-age pension. The new party sought to bring more content into the worker's life by assuring him some comfort when he attained old age, and in the process give him more satisfaction in his present condition and enlist his co-operation toward greater production.