BRITAIN’S FINANCE.

Wairarapa Daily Times, 20 October 1930, Page 5

BRITAIN’S FINANCE.

STRENGTH OF SECURITIES. RISE IN VALUES. RUGBY, Friday. The strength of Government securities continues to be a marked feature on the-Stock Exchange. Yesterday 4 per cent, consols rose ten shillings to £B9/17/6, compared with £B2/13/9 a year ago and the 5 per cent, war loan has reached a new record by rising to over £lO5 compared with £lOl/18/9 a year ago. This means an aggregate rise of £12,640,000 on the day on £6,176,000,000.—8.0.W. EXPENDITURE CUTS. LLOYD GEORGE’S POLICY.

LONDON, Friday.

Australia has set a precedent in lowering Governmental costs and the British Government must make drastic cuts in expenditure, declared Mr Lloyd George, addressing the Liberal Conference at Torquay. Tho Liberals proposed summoning a conference of industrial, banking, and commercial interests and trades unions to review the position and make proposals for reducing the cost of production without lowering the workers’ standard of living. The banks should be urged to agree to a policy of less restricted credits for fianancing industrial developments. A national development loan of probably a hundred millions sterling should bo raised to finance slum clearance and other public works, instead of investing that capital abroad. Mr Lloyd George did not believe that British wheatgrowers could compete- with tho great overseas prairies at present prices. The quota would be equivalent to a tariff of fifty; per cent. He asked them to consider the proposition of a country with the heaviest taxation in the world and a debt of 8000 millions, and with two million unemployed, paying a subsidy to farmers at tho ends of the earth who generally were prosperous. ,