WORK OF HOUSE

New Zealand Herald, Volume LXX, Issue 21647, 13 November 1933, Page 14

WORK OF HOUSE

m. COATKS' BUDGET A LITTLE DISAPPOINTMENT KEEN DEBATE IN PROSPECT RESERVE BANK LEGISLATION [nv TELKCRAI'U —SIMX lAf. IIBfOUTKII] • 'WEfJJN'r.TON. Sunday Tho presentation by the .Minister of Finance, Rt. Hon. .1. G. Coatcs, of liis first Budget on Thursday evening lias, of course, been the major political event of the week. The general feeling is that the .statement proved to he very much what was expected, and that I a satisfactory effort has been made to ! cope with a difficult and most complex I situation. lOven among loyal supporters of (he Government, however, there is a feelJ ing of disappointment that provision I has not been found for granting some small measure of relief to the taxpayers. It is believed that the helpful psychological effect of such a gesture would have been worth very much more than its money cost. The attitude of the Opposition, as expressed by its leader, .Mr. AI. .1. Savage, is that in its financial statement the Government has offered no lead to the country in its present difficulties -such as might fairly have been expected. "Wo have overstepped the mark in the way of talking," said Air. Savage, "and there has not been enough of doing things. The Government has no definite plan. Problem of Unemployment "There should he no need for all these relief schemes and we ought to substitute things that matter for things of third and fourth rate importance that aro being dono to-day. The Government should aim to find the best method of employing our own peoplo in a way that will enable them to earn an independent livelihood and maintain their families." Mr. Savage said that as soon as he got his hands freo from Parliamentary duties he would make it his business to meet, regardless of their party, representatives of all sections of the people who were doing the work of the country and to find out just what they were able to do, and at what price, so that they might discover the best way to get industry going again in New Zealand. One of tfie points that is likely to attract much criticism when tho financial debate opens on Tuesday is tho action of the Government in carrying its high exchange obligations into a suspense account outside tho normal Budget. ".It is a gambler's way of doing tilings," said one member, "and a day of reckoning must come. Floating debts sooner or later must bo funded and that means ultimately more taxation." Criticism of System' The whole system of presenting the national accounts is regarded by some as quite unsatisfactory, and contrary to tho principles of commercial accountancy, because the true position is not presented. It will doubtless be assorted in the debate that to toll the public there is an estimated deficit of £2,000,000 is quite erroneous when there may be a further £'2,000,000, or fven more, in the suspense account of accrued liability for high exchange. The Budget debate, into which almost any subject may he introduced, j is expected to last well into next week, i An early contribution from the Hon. jW. Downie Stewart. ex-Minister of Finance, is looked forward to with | particular interest. The Reserve Bank Bill had its first reading in the Legislative Council oil Thursday and will appear there again for debate next Wednesday. Questions and notices of motion on the Order I'aper indicate that members of the Council are devoting special attention to tho question of tho value the hanks aro entitled to place on the gold coin reserves that are to be taken over from them. The Council's Powers The Hon. C. J. Carrington is questioning a statement by the chairman of tho associated banks that imports and exports of gold coin since the proclamation of 1014 have practically balanced, and Sir James Allen, the Hon. J. A. Hanan and Mr. Carrington are each asking for returns hearing on the import and export of gold coins and bullion and the issue of notes. Some difference of opinion has been expressed whether the Council has power to amend the Reserve Bank Bill. It is stated that the Speaker himself. Sir Walter Carncross, is of opinion that the bill is not strictly a money bill, though it contains many clauses which undoubtedly aro money 'clauses, and which, therefore, could not he amended by the Council. In that case it is evident that the Council, should it feel so inclined, may effect amendments to what are the strictly machinery clauses of the bill. There still seems room for argument whether the vital clause providing for the appointment of the governor and deputy-governor of tho new institution is a machinery clause. It is understood ! that Sir Francis 801 l and Sir .Tames Allen will each take an active part, iu the debate on the second reading. Tho passage of the bill without any serious difficulty is regarded as assured. Good Progress in House r l lie week began with ;> lengthy Order Paper, indicating that the Government is now ready with ample legislation to keep the House of Representatives occupied until the vacation. Good progress was made without extended sittings. The Companies Bill , has had its second reading and a fortnight's interval is to be allowed before it comes to the Committee stage. The Coinage Bill was put through all stages expeditiously and is now before the I ppcr Hons* 1 . The bill to ratify the trade agreement with Australia has also gone through all stages, but the date of the operation of the treaty has yet to be determined between the two Governments concerned.

'I lie lull to provide for tho training ;iikl granting of diplomas (o local liody officers has hecn referred (o (lie Local Bills ('oinhiil lee. Progress lias lieen made witsi several local hills and I lie Government lias liroiiglit forward lor discussion several hills providing h:r the further control and organising "I such industries as tomato growing and poultry raising and the vending ol remedies for farm stock. Altogether Parliament tuny fairly claim that it has not hecn idle. s o lar as has hecn announced no further move has vet heen made Itv (lie Government, toward filling several vacant positions in which interest, has long hoen centred. It would appear that the appointment of a not her .1 udge l| "' Supreme Court cannot lie much longer delayed, hut (lie filling n f (|,e Keenly-felt vacancies in (lie Legislative Council would seem to ho as far distant as ever.