BUSINESS ENTERPRISE

Waipa Post, Volume 45, Issue 3252, 8 November 1932, Page 5

BUSINESS ENTERPRISE

CAPITAL FOR DOMINION. (By Telegraph. Press Association.) STRATFORD, Monday, "More enterprise is needed in Mew Zealand to-day," said the Hon. R. Masters, Minister of Industries and Commerce, speaking at the banquet held this evening in celebration of the opening of the Stratford railway. He spoke of the need for a more confident outlook in business circles. "I am of opinion that the time has arrived when there should be a loosening of purse strings and of judicious spending," said Mr Masters. " I know officially of one concern which desires to invest £500,000 in New Zealand. It needs no emphasising by me to show what benefit it would be to have that additional capital spent in New Zealand, buying our electricity, giving work to the unemployed and producing at a cheap rate an article which is needed greatly. Such enterprise needs encouragement and if necessary should be given concessions. I mention this to show that capital outside New Zealand apparently has confidence in us. "We have just about reached the limit as far as the depression and pessimism are concerned, and I think we can definitely look forward to better times. There is a limit to taxation and there is also a limit to economy. An excess of either creates hardship, which may in turn create unemployment."