EXPERTS ADVICE.

Wairarapa Age, 27 August 1930, Page 5

EXPERTS ADVICE.

AUSTRALIA’S FINANCIAL TROUBLES. BUDGETS MUST BE BALANCED. (Received Tuesday, 10.20 p.m.) ADELAIDE, August 26. Sir Otto Niemeyer, in a speech here, said the resolutions at the Premiers’ Conference in Melbourne, which had been received satisfactorily in London, were merely the scaffolding upon which to build in future. The Governments of Australia must balance their budgets and keep them balanced. It was essential that all maturing debts be met regularly. He emphasised that if the rates of interest to Australia were to be decreased gradually it could only bo done by remitting other demands for money and arranging budgets so they did not unduly encroach on private industry. The basis had to be on the side of reduction of expenditure rather than increased taxation. Care would have to be exercised not to overprovide public utilities and in giving commerce and industry more than they really needed. RETURN TO LONDON. (Received This Day, 0.49 a.m.) MELBOURNE, August 26. It is announced that Sir Otto Niemeyer next visits Queensland, and departs for London in three weeks. LABOUR’S ULTIMATUM. DRASTIC MEASURES SUGGESTED. (Received This Day, 1.25 a.m.) SYDNEY, August 26. The industrial and political wings of the New South Wales Labour Movement, at a conference, decided tonight to recommend that the Federal Labour members of Parliament should repudiate the financial agreement reached at the recent Premiers’ Conference in Melbourne, that any member who refuses to obey should be expelled from the party as "an enemy of the working classes.” It was also recommended that the Government should cancel its war debts, declare a five year’s moratorium on interest payable on overseas Commonwealth loans and that there should bo a mobilisation of credit to provide work and sustenance for the unemployed. Another decision was that award rates of pay should bo maintained, regardless of the financial situation. These recommendations are to be submitted to labour organisations throughout Australia for approval and ratification.