THE LABOUR LEADER

Otago Daily Times, Issue 22742, 30 November 1935, Page 14

THE LABOUR LEADER

A TRANS-TASMAN INTERVIEW POLICY TOWARDS BANKS EXPLAINED (Per United Press Association) AUCKLAND, November 29. “Our job is to get rid of the sales tax at the earliest possible moment,” said Mr Savage, when taxation questions were mentioned to him. “ The incidence of taxation must be placed on a better basis. Certain taxes have been abolished to help the farming community, but other taxes have been imposed to take their place, and these have been a burden on all classes, and they have not helped the farmer. What we wiil do is to make a thorough investigation of the taxing system generally,” Mr Savage had a conversation with a representative of the Sydney Daily Telegraph on the telephone at 1.30 this morning: “I was asked if the new Government was likely to do anything to affect the trade agreement between Australia and New Zealand and I said, ‘ No.’ When I was asked whether the agreement would be expanded, my reply was ‘that is our intention as far as we can do so.’

“I was asked if anything would be done to deal with the trading banks, and I replied that I could not see any reason for doing anything of the kind at the moment. Our policy, I said, was to control credit and currency, and that would be done through the Reserve Bank of New Zealand. When asked if I saw any reason to pass legislation that would affect the other banks my reply was: * I see no reason for that course.’

“I was then asked if any legislation of a social character was contemplated on the spur of the moment. I replied that universal superannuation would be attempted. Details were then sought, and I said that the basis of the scheme would be New Zealand’s power to produce. I added that we were hoping that the time was not far distant when a man or woman on reaching the age of 60, or invalidity, would be provided with the full standard of life.” SOCIETY OF ACCOUNTANTS NEW GOVERNMENT CONGRATULATED ASSISTANCE AND CO-OPERATION (Per United Press Association) WELLINGTON, November 29. A meeting of the executive of the New Zealand Society of Accountants passed the following motion: —“ That the New Zealand Society of Accountants as a non-political organisation offers to the new Government its co-operation for the good of the Dominion. In the past, when called" upon by the Government for the time being, the society or its individual members have given such assistance as they’ were able to give, and the society will be pleased to render to the present Government such public service as it has given to former Governments.” THE CHANGE-OVER OLD AND NEW GOVERNMENTS (Per United Press Association) WELLINGTON, November 29. Ministers of the Crown will he in Wellington to-morrow morning foy a meeting of Cabinet, which has been called by the Prime Minister to decide the future course of action so far the Government is concerned. The Minister of Health, Sir Alexander Young, and the Minister of Public Works, Mr J. Bitchener, both of whom were defeated, arrived in Wellington to-day, and all the Ministers, including the Minister of Finance, Mr J. G. Coates, will be in Wellington to-morrow. Mr Forbes stated to-day that the arrangement for the meeting of Cabinet to-morrow morning had not been altered, and the decision as to when the Government would resign would be reached. His feeling was that the resignation should take effect as soon as Mr Savage was in a position to respond to the invitation of the Governor-General to form a Cabinet. In the meantime it is uncertain when the members who were elected to support the Labour Party will be meeting in Wellington. The Prime Ministerelect, Mr M. J. Savage, will arrive in Wellington on Monday morning, and it is anticipated that most of the Labour members will be in Wellington either on that day or on Tuesday. In certain electorates, however, there is an element of uncertainty and it may be necessary to await the result of the official recount of votes. It may be taken for granted, however, that the new Labour Government will be in office well before the end of next week. RATE OF EXCHANGE A GRADUAL DECREASE TRADE WITH AUSTRALIA

(Per United Press Association > AUCKLAND, November 29,

“There is no need for anyone overseas, or in New Zealand for that matter, to fear a further increase in the rate of exchange,” said the leader of the Labour Party, Mr M. J. Savage, when a cablegram from London was referred to him. Mr Savage said the policy of the future Government was to lower the exchange gradually so as to avoid inflicting any hardship on individual in«i fail to see how our return to power can in any way prejudice the outlook for Australian loan conversions,” Mr Savage added. “We shall be ready and willing to work in full co-operation with Australia, I myself am an Australian by birth, and I have long held that both the Dominion and the Commonwealth have many mutual interests. We should be brought together in the knowledge of what is happening in the respective countries in trade and in legislation.”