ECONOMY PLAN

Taranaki Daily News, 22 August 1930, Page 9

ECONOMY PLAN

AUSTRALIA’S URGENT NEED PREMIERS MAKE DECISION REVISION OF THE BUDGETS By Telegraph—Press Assn.—Copyright. Rec. 10.30 p.m. Melbourne, Aug. 21. The Prime Minister, Mr. J. 11. Scullin, spent a few minutes at the Premiers’ conference to-day before taking his departure for London. Sir Otto Niemeyer and Sir Robert Gibson, chairman of directors of the Commonwealth Bank, were also present. The conference agreed upon a scheme of all-round reduction of Government expenditure as advised by Sir Otto Niemeyer, and plans were evolved for the revision of programmes in order to balance the various Budgets. The Federal Government’s representatives have undertaken to pursue a similar com fie. It was decided to make available £lOOO,OOO to South Australia, half of which will be contributed by the Federal Ministry, in order to ensure the preservation of that State’s solvency. It was further decided that loan moneys in future will be spent only on reproductive works. The conference issued a statement pointing- out that there was not a vestige of truth in the published report that it was intended to abolish the State Governors, no such discussion havinor occurred. Sir Otto Niemeyer’s report on Australian finances will be released to-mor-Last night it was announced that the Federal Cabinet had agreed to summon Parliament for a special session to review the Budget and to severely curtail expenditure.