TWO MINISTERS CRITICIZED

Southland Times, Issue 23332, 16 October 1937, Page 8

TWO MINISTERS CRITICIZED

MR LANGSTONE AND MR LEE MARTIN CONDUCT OF PORTFOLIOS (From Our Parliamentary Reporter) WELLINGTON, October 15. A further suggestion that there has been a flight of capital from New Zealand because of the policy of the Labour Government was made by Mr H. S. S. Kyle (Nat., Riccarton) during the financial debate in the House of Representatives today. It had been reported, said Mr Kyle, that a leading insurance company had transferred £1,000,000 from New Zealand to Australia, where it would be able to invest the money at a higher return and under a less pressing taxation demand. The yield from the investment would be 4| per cent., less 1/- per cent, income tax. At the same time the Government Life Insurance office had loaned £550,000 to the Wellington Hospital Board at per cent, and the result would be a reduction in the bonuses paid to policy-holders. Two members of the Cabinet singled out for criticism by Mr Kyle were the Minister of Agriculture (the Hon. W. Lee Martin) and the Minister of Lands (the Hon. F. Langstone). Mr Lee Martin, he said, was doing very little for agriculture and was even allowing the Minister of Industries and Commerce (the Hon. D. G. Sullivan), who knew nothing about farming, to deal with agricultural matters. As for Mr Langstone, he had done nothing to suggest that the Government had even thought about land policy. Conditions were different in Australia, where land was being developed and production increased. The Minister of Lands in New Zealand had been a dismal failure. Nothing had been done to build up New Zealand’s meat exports to the limits allowed in the British quota. Mr Kyle also discussed the unemployment position. It was significant, he said, that in the Abstract of Statistics for September no unemployment figures had been published. “Manufacturers in New Zealand are in a terrible plight today,” Mr Kyle added. “The Government has promised to assist them, but it is still considering the matter. When that assistance is forthcoming it will inevitably result in a further increase in costs to the people.”