“DRASTIC ACTION IMPERATIVE.”
Australia’s Bold Move. CORRECTING ADVERSE BALANCES. (United Press Association—By Electrlo Telegraph—Copyright.) (Recieved, April 7, 7.55 p.m.) SYDNEY, April 7. The Federal treasurer, Mr E. G. Theodore, replying to criticism of the tariff, said that he was well aware that there would be a serious fall in customs revenue, due to tariff increases and restrictions. He anticipated this would aggregate £5.000.000 and some means would have to be taken to bridge this gap. He added that the adverse affect upon importing houses would be more than counterbalanced by increased activity in Australian industries. “We were forced by economic circumstances to take drastic action,” added the Minister, “but we are not aiming at any country in particular.” Speaking at a luncheon connected with the exhibition of wool products, Mr Theodore said the luxury importations into Australia amounted to £27,000,000 annually, most of which could be well done without.
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Bibliographic details
Timaru Herald, Volume CXXV, Issue 18538, 8 April 1930, Page 9
Word Count
149“DRASTIC ACTION IMPERATIVE.” Timaru Herald, Volume CXXV, Issue 18538, 8 April 1930, Page 9
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