RECOVERY IN INDUSTRY

Timaru Herald, Volume CXXXVII, Issue 19372, 22 December 1932, Page 9

RECOVERY IN INDUSTRY

BRIGHTER OUTLOOK IN AUSTRALIA

REPORT TO FEDERAL GOVERNMENT United Press Association—By Electric Telegraph—Copyright CANBERRA, December 21. Statistical evidence gathered from all over Australia, embodied in a special report to the Federal Government, by the Commonwealth Statistician. Mr McPhee, shows the 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 in industry. The improvement is especially noticeable in New South Wales, Victoria, and South Australia. Employment has increased in all States except Queensland. Reduced Taxation Promised. A 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 burden of taxation, in the firm belief that by these means industry will best be encouraged to provide employment.” INCREASE IN BUSINESS ACTIVITY REVIEW BY PREMIER OF NEW SOUTH WALES. United Press Association—By Electric Telegraph—Copyright (Received 1.10 a.m., December 22.) SYDNEY, December 21. The Premier (Mr Stevens), reviewing economic conditions, said that during the past six months business activity had increased ten per cent., and in the wholesale trade seven per cent., while the turnover In the principal department stores had increased more than ten per cent. Deposits in savings banks had increased by £1,300,000, and it was estimated that at least 20,000 additional employees were engaged In the factories of New South Wales, Mr Stevens added that there had also been a marked revival in real estate business, and the Stock Exchange, while the expansion in rail and tramway receipts was most substantial.