VOTERS WARNED

Taranaki Daily News, 19 September 1930, Page 7

VOTERS WARNED

DANGER TO AUSTRALIA MUST BALANCE THE BUDGET DISASTER AS ALTERNATIVE N.S.W. MUST GIVE THE LEAD PREMIER’S POLICY SPEECH By Telegraph—Press Assn.—Copyright. Rec. 11.10 p.m. Sydney, Sept. IS. A policy speech was delivered by the Premier of New South' Wales, Mr. T. R. Bavin, to a crowded audience at the Killara suburb to-night. He said? the Government sought .approval of the financial agreement reached at the Premier’s conference. Mr. Bavin warned the electors that if the agreement was repudiated by any or all of the States there was no escape from disaster. "We are therefore fighting in this ■State the battle of the whole of Australia,” he said. “I hay© undertaken on behalf of New South Wales to balance our Budget and now ask for a free hand to do so. We shall aim at equality of sacrifice, relief for unemployment, reduced cost of the Public Services, maintenance of the highest standards of living that the economic conditions will permit, and insistence that reduced costs of production shall W accompanied by a corresponding redaction in the costs of commodities. “We shall do our utmost to meet our obligations by economy rather than by taxation. We shall provide loans at low rates of interest for primary producers who are prepared to give employment and shall continue our efforts for the relief of unemployment. We will give relief to mortgagors who are unable to meet their obligations.”

Mr. Bavin reviewed the finances of the State and the Commonwealth, pointing out that the national income had. diminisheAdiy £80,000,000. He estimated the total deficit of the Commonwealth and the States for the current year, unless the expenditure was drastically cut down, would amount to £20,000,000. He emphasised that Australia’s difficulties were only postponed, not removed, but if it should be apparent that they were making a genuine effort to honoiu’ their obligations they would be able to convert loans as they fell due at a lower rate of interest. Before next June they had to raise £49,000,000 from the Australian market ,for conversion of internal loans. CABINET SITS. CONTINUOUSLY. EFFORTS TO FIND SOLUTION. Rec. 1.12 a.m. Melbourne, Sept. 17. The Federal Cabinet is meeting continuously in an endeavour to evolve a policy of economic and financial reconstruction. The Acting-Prime Minister, Mr. J. E. Fenton) whose health is indifferent, said Cabinet was convinced wages and other costs must come down. It was also highly likely that further taxation will be imposed on land, private incomes and amusements as well as by increased 'Customs and excise duties.