GOOD PROGRESS.

Waikato Times, Volume 113, Issue 18903, 24 March 1933, Page 9

GOOD PROGRESS.

IN NEW SOUTH WALES, MR LYONS’B REVIEW. SYDNEY, February 28. The story of “the somewhat extraordinary progress made In Australia since the restoration of honest Government,” was told by the Prime Minister (Mr Lyons) in an address before National Club members. Government deficits, he said, had been reduced to a controllable minimum, tax burdens had been cased, confidence in Australia restored, and there were prospects of further remission of taxation. Lang Barrier. Until they had removed the Lang Government, he said, little progress could be made. If the Government had done nothing else for Australia, it was at least entitled to recognition from the people for removing that State Government. What a change had taken place since then. The Federal Government promised to reduce Budgets until they were balanced. Following an aggregate deficit of between £20,000,000 and £30,000,000 In all Governments, it was estimated that in 1931-32 there would be something like a total deficit of £40,000,000 for the year. The States and the Commonwealth faced the issue, and were able to bring the deficit down to £2O,UOU,O()U. But for the Lang Government, the deficit would have been more substantially reduced, because £13,000.000 of the total was due to that State. “You can realise the progress made,” he added, “when vou find that, following on that £13,000,000 State deficit, under Mr Stevens, the State Government deficit will not exceed £5,000,000 for the year. “And again, because of the Stevens Government’s participation with' other States, we will be able this year to reduce the estimated deficit of all Governments to about £9,000,000." i

Reduced Interest. The determination of the Governments to work on correct financial lines had a widespread beneficial effect, owing to the restoration of confidence. That confidence was reflected by the banks reducing interest charges, which would lead to improved budgetary positions for all Governments; that, in turn, would help to create new life in private enterprise and assist the reabsorption of the unemployed. Already the financial position had improved to such an extent that relief in taxation could be granted. “The policy of the Government,” he added, “is very definitely to grant further relief from the burden of taxation on industry and the individual, because we believe that that Is the only way in which we can get our unfortunate unemployed back to their old position. Commenting on the tariff, Mr Lyons said it was the Irrevocable policy to seek neither free trade nor tariffs that amounted to prohibition. They would keep the tariff free from the whims of politios, and be guided largely by the expert body appointed to Investigate such a problem.