BUDGET DEBATE.

Star (Christchurch), Volume XLIV, Issue 579, 8 October 1932, Page 15

BUDGET DEBATE.

Financial Position of the Country. WARNING TO CABINET. Per Press Association. WELLINGTON, October 7. The debate on the Financial Statement was resumed in the House of Representatives to-day. Mr H. T. Armstrong (Labour, Christchurch East) said the financial position would go from bad to worse unless the Government grappled with the problems of currency. He expressed disappointment with the results of the Ottawa Conference, and said it was not reasonable to expect the Old Country to place an embargo on goods from countries outside the Empire. He considered the establishment of a market within New Zealand would be the only way in which lasting benefit would accrue to the Dominion’s primary industries. Mr A. D. M’Leod (Coalition, Wairarapa) described the National Expenditure Commission’s report as the Treasury’s opinion, and declared that shifting the load from the general taxpayer to the local taxpayer was not going to be a national economy. Referring to Ottawa, he said that if the secondary industries had nothing to fear it meant the farmers did have something to fear. Mr C. Carr (Labour, Timaru) criticised the National Expenditure Commission’s report and asked whether it was economy to impoverish the Plunket Society and restrict school dental and medical services. lie wondered whether the Commission realised what would be the effect on the race. Referring to currency Mr Carr said nothing could be accomplised while the control of money was in private hands. He considered that prices could be stabilised in New Zealand and there was no necessity for prices paid overseas to determine prices paid here.