PREMIER INTERVIEWED

New Zealand Times, Volume LI, Issue 11738, 28 January 1924, Page 7

PREMIER INTERVIEWED

DOMINION’S FINANCES SUBSTANTIAL SURPLUS EXPECTED. FURTHER TAX REMISSIONS MAY BE HOPED FOR. “The present financial position of the Dominion is very good. Our finances a.re buoyant, thanks to the better prices that are being realised for our produce; and wo are bound to have, so far as I can see, a substantial surplus at tho end of the financial year,” stated the Prime Minister (the R.t. Hon. W. F. Massey), in the course of an interview with a “Times” representative yesterday. “The surplus may not be as good as many people expect, however, because many of the financial concessions made last session come into account this quarter, the last quarter of the financial year. Still the position is a good one; hut whether it will be possible to give any further remissions of taxation depends Xn what tho accounts look like on rch 31st next. The policy of the Government has been all along to reduce taxation as soon as possible, as one of the best means of promoting the prosperity of the country, and that policy will be adhered to. That is really all I can say at present or. that. I have not had an opportunity of consulting with my colleague, the ActingFinance Minister (the Hon. W. Dcwnie Stewart), nor with the Treasury Department since I came back, and won’t have for a day or two; but I understand the position is very good, and that further remission of taxation may be hoped for.” Asked whether it was likely that Parliament would meet somewhat earlier than usual this year, Mr Massey said, “There, again, I must consult with my colleagues; but just at preI see no reason why Parliament should meet earlier, or much earlier, than usual. ’ “Of course, the second session of every Parliament is supposed to he the business one,” suggested our representative. “Last (session was a business one,” replied the Prime Minister. “You will never get a better session than last session. It was a real good one.”

DEVELOPMENT LOANS. In reply to a question as to whethe: New Zealand would bo taking advantage to any great extent of the svstem of loans on specially favourable terms for immediate development purposes, which - had been suggested by the Imperial Conference, Mr Massey said: “'That is one of the things that stands over for the present, because it requires legislation in the Imperial Parliament; and whether the Labour Government now in power will introduce legislation for this purpose I am not able to say. I have no means of knowing. You see it is not on the same basis as the preference proposals. Had the development loans scheme been proceeded with. I was certainly going to advise the New’ Zealand Government to take advantage of it: and I shall do so if it is gone on with. But I am not so sanguine as to its being gone on with as “bout the preference proposals. I understand that the new Government has promised that the preference proposals will be submitted to the British Parliament, and that- improves the position a bit. Of course, the market is rather against borrowing at present at Home; hut the credit of New Zealand is just as good as ever it was; and I hope and believe that when the necessity again arises—happily we have sufficient money in hand to keep us going for a considerable time yet—we shall be able to borrow’ whatever wo want without any difficulty.” OTHER WORK OF CONFERENCE. Questioned as to the position in regard to the Ruhr and reparations problems, the Prime Minister said that the Imperial Conference had not been able to do much with reference to these matters. The Conference wanted a commission or committee of experts set up to deal with these problems. That was the line that the Conference took; and he understood that that had been done, hut that was another thing that he had not been able to follow- fullv while he was away. ■‘l know,” he added, “that America has representatives on the committee, and that is certainly to the good.” “I cannot say more at present in regard to the work of the Imperial Conference,” said Air Massey in conclusion. “I recognise that the cabled reports of the Conference discussions were necessarily brief; and when Parliament meets I shall, of course, as on previous occasions, take an opportunity of making more detailed references to the work of the Conference.” REFORM LEAGUE GATHERING. Arrangements are well in hand for the welcome home w’hich is to be accorded Mr Massey by the Wellington and Hutt group area of the Reform Party League at the Town Hall on Wednesday, February 6th. The chair is to be taken by the Hon. Sir Francis Bell, and admission is to be obtained by ticket only. Supporters of the party need have no difficulty in obtaining tickets, however, as these will be available from' th© offices of the league in Ballanoe street, or from gentlemen whose addresses are advertised in this issue. Musical items will he given during the evening, and, apart from the votes of thanks, the speeches will be confined to Sir Francis Bell’s welcome and the Prime Minister’s reply. CIVIC RECEPTION TO-DAY. A civic reception to the Prime Minister will be accorded by the Mayor (Mr R. A. Wright, M.P.) at the Town Hall at 3 o’clock this afternoon, when a large number of representative citizens should assemble.