SOCIALISATION OF CREDIT IS CHIEF PLANK IN LANG'S NEW POLICY

Stratford Evening Post, Volume II, Issue 353, 9 September 1933, Page 5

SOCIALISATION OF CREDIT IS CHIEF PLANK IN LANG'S NEW POLICY

j PLANS FOR NEXT FEDERAL AND STATE ELECTIONS i i ! Aim at Complete Control Over Secondary Industries by • Tariff Manipulation I ! ; : - Press Association—Copyright. | Reed. Today, 8.35 a.m. Sydney, Today. Lang Labour forces at the next FederM and State elec- ! tions are placing the socialisation of credit in the fore- | frox.:L of their policy.

They aim to obtain complete conliol.over secondary industries in Australia by manipulation of tariff compelling manufacturers receiving protection to employ specified quotas of persons; to furnish safeguards against uneconomic exploitation and unreasonable inflation of costs and enforce liquidation of surplus and watered capital where dividend requirements are a factor in uneconomic production. Government auditors shall be per-

mitted to inspect all books, records, accounts, wages sheets, production costs and records of profits or dividends. The penalty for exploitation or an illegal lockout shall be the automatic suspension of the tariff protection. Other revolutionary measures include an anti-trust tax, inheritance tax, and reserves and profit tax. It is also intended to abrogate the Ottawa agreement.