MORE WORKING

Southland Times, Issue 21895, 22 December 1932, Page 5

MORE WORKING

AUSTRALIAN INDUSTRY APPRECIABLE RECOVERY NOTED TAXATION RELIEF (United Press Assn.— Telegraph Copyright.) Canberra, December 21. Statistical evidence gathered from all over Australia and embodied in a special report to the Federal Government by the Commonwealth Statistician, Mr McPhee, shows an appreciable recovery in industry, which has proceeded for four months and now is becoming daily more marked. Mr McPhee reports that the unemployment crisis is easing, and that thousands of men are being absorbed in industry. The improvement is especially noticeable in New South Wales, Victoria and South Australia. Employment has increased in all the States except Queensland.

A Government statement says: “Subject to the revenue position being maintained, it is the policy of the Government to give further relief from the existing heavy burden of taxation in the firm belief that by these means industry will best be encouraged to provide employment.” BRIGHTER OUTLOOK IMPROVEMENT IN BUSINESS. (Rec. 1.10 a.m.) Sydney, December 21. The Premier, Mr Stevens, reviewing the economic conditions, said that during the past six months business activity had increased 10 per cent, in the wholesale trade and the turnover at the principal department stores had increased more than 10 per cent. Deposits at the savings banks had increased by £1,300,000 and it was estimated that at least 20,000 additional employees were engaged in factories in New South Wales. Mr Stevens added that there had also been a marked revival of business in real estate and on the Stock Exchange, while the expansion of railway and tramway receipts was most substantial.