REVIVAL OF BUSINESS.

Waikato Times, Volume 114, Issue 19054, 19 September 1933, Page 6

REVIVAL OF BUSINESS.

REPORTED IN NEW SOUTH WALES. STATE COMPETITION ENDED. (Empire Press Union.) SYDNEY, Sep. 7. The Premier of New South Wales (Mr B. S. B. Stevens) in speeches at various times has been promising reductions an taxation during the present financial year, which commenced in July. It is recognised by the Government that, while the efforts being made to restore employment are having good effect, trade and commerce require the fillip which a lowering of the general imposts will give, and the outlook of confidence has been considerably strengthened by the announcement. The Government takes a broad view of the economic position and realises .that upon private investment and enterprise the situation has its main basis. The Government is shedding itself of various industrial trading undertakings in which the State has been engaged for some years > —principally at the Instance of Labour Administrations. The policy now is that competition by State against private enterprise will be ended and the latter given a clear field for expansion and the consequent re-employ-ment of men and women.

At the annual meeting of the New South Wales Chamber of Manufactures held in August, the address of •the president (Mr 11. Gordon Bennett) was highly optimistic. He said there ■was evidence of more buoyant conditions than was the case a year ago, the dark clouds of depression appeared to be blowing away, and the disastrous florid of difficulties receding. In Sydney there has been a notable revival of building, and the trades allied thereto have benefited. Private contracts for building in the city have increased sixfold as compared with last year, and the figures for the metropolitan suburbs are double. As the Federal Government is also in a position to lower taxation, and announcements have appeared that it is likely to be •done, the outlook is bright-