RECOVERY OF AUSTRALIA

Taranaki Daily News, 22 December 1932, Page 5

RECOVERY OF AUSTRALIA

STEADY ADVANCE .SHOWN DECIREASE IN UNEMPLOYED POLICY OF GOVERNMENT REDUCTION OF TAXATION ? r By Telegraph—Assn.—Copyright. Canberra, Dec. 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 is now becoming daily more marked. - ■ Mr. McPhee reports that the unemployment crisis is easing, thousands of men being absorbed ir. industry. The improvement is especially noticeable in New South Wales, Victoria and South Australia. Employment, has increased in all States except Queensland.

Tire Governmental statement says: “Subject to the revenue position being maintained, it is the policy of the Government to give further relief from the existing heavy burdens of taxation in the firm belief that by these means industry will best be encouraged to provide employment.”

REVIVAL OF BUSINESS BIG IMPROVEMENT IN N.S.W. UNEMPLOYMENT DECREASE. Rec. 1.10 a.m. Sydney, Dec. 21. Reviewing the economic conditions in New South Wales to-night the Premier, Mr. B. S. B. Stevens, said that in the last six months business activity had increased by 10 per cent., wholesale trade by 7 per cent, and the turnover of department stores by more than 10 per cent: Deposits in savings banks had increased by £130,000. It was estimated that at least 20,000 additional employees had been engaged in factories in New South Wales. There had also been a marked revival in business in real estate and on the Stock Exchange, while the increase in receipts from railways and tramways had been most substantial. ’ '