HEALTHY CONDITIONS

Wanganui Chronicle, Volume 79, Issue 284, 4 December 1935, Page 8

HEALTHY CONDITIONS

NEW ZEALAND FINANCES [ STATEMENT BY RETIRING MINISTER L Per Press Association. ) WELLINGTON, Dee. 3. A statement emphasising the buoyancy of Mr. Zealand’s finances was issued to-night by the Minister of Finance, Hon. J. G. Coates, who also reviewed the main aspects of the Coali- | tioa Governm’eut’s policy during the | past four years. The retiring Minister I reiterates his faith in democracy and Ihis belief in its superiority over alternative forms of government, and asks I for the continued co-operation of the people of New Zealand in the task which still lies ahead. “On the eve of relinquishing office 'as Minister of Finance, 1 consider it [desirable to make a statement showing] the present position of the country's! finances,” Mr. Coates said. “It will be a source of gratification to the pub- , j lie to note that the finances of the country are in a healthy position and that the new Government comes into office with a balanced Budget, with buoyant revenue and with expenditure well under control.’’ Speaking of the current year’s Budget, Mr. Coates said that the results to date were in accord with expectations. “To sum up the position, if the Budget, as arranged, is allowed to run its course, I am satisfied that the net result will be a surplus probably somewhat in excess of that provided for in the financial statement. After traversing the country’s position as regards debt payment and conversion of loans, and dealing with the j present state of the unemployment fund, which is expected to finish the year with a small balance, Mr. Coates adds: “To repeat the statement made in the Budget, 1 consider the Goveru- - ment can justly claim to have piloted the Dominion successfully through the r worst economic storm in its history. ■ Thu foundations of recovery have been > well and truly laid, and it is no small satisfaction to the Government, in relinquishing the Treasury Benches, to j know that the Budget is healthy and , the financial position of the Dominion . sound and secure, that the work of reconstruction has met with a coasider- . able measure of success, th-it recovery is well under way and business confidence has been substantially restored. “Naturally the Government regrets • it has not the opportunity of putting • into effect the policy of development and humanitarian legislation which it . placed before the electors, but it ac- - eepts the will of the people with the intention to fulfil its duties in Opposi- . tion as sincerely and resolutely as when