HEADWAY REPORTED.

Wairarapa Age, 22 December 1932, Page 5

HEADWAY REPORTED.

INDUSTRIAL RECOVERY IN AUSTRALIA. BECOMING MORE MARKED DAILY. PROSPECTS OF LOWER TAXES. CANBERRA, December 2L Statistical evidence gathered from all over Australia, 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, and thousands of men are being absorbed in industry. The improvement is especially noticeable in New South Wales, Victoria, and South Australia. Employment has increased in all the States except Queensland. A Governmental statement says that “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 be best encouraged to provide employment.”

ENCOURAGING FIGURES. PROGRESS IN NEW SOUTH WALES. (Received This Day, 1.19 a.m.) SYDNEY, December 21. The Premier, Mr. B. S. B. Stevens, reviewing economic conditions, said that during the past six months, business activity had increased ten per cent., wholesale trade seven per cent., and the turnover of principal department stores more than 10 per cent. Deposits in the savings bank had increased by £1,300,000 and it was estimated that at least 20,000 additional employees had been engaged in factories in New South Wales. Mr. Stevens added that there had also been a marked revival in business and real estate dealings and on the Stock Exchange, while the expansion of rail and tramway receipts was most substantial.