POLICY POINTS.

Auckland Star, Volume LIX, Issue 226, 24 September 1928, Page 7

POLICY POINTS.

LABOUR PLATFORM. Important Planks On Banking And Currency. CONFERENCE PROGRAMME. (British Official Wireless.) RUGBY, September 23. Tho conference of the Labour party will be commenced on October 1 at Birmingham. The delegates will consider an important addition to their draft programme, consisting of a report on banking and currency policy. If the report is accepted its conclusions will be embodied in the party’s programme at the next general election. It contains the four following proposals:— b H

(1) The control of the Bank of England by a public corporation, the membership to include representatives of the Treasury, the Board of Trade, Industry and Labour and the co-operative movement.

(2) The extension of existing banking facilities to the people of small means by the spread of municipal and co-opera-tive banks.

(3) Such changes in the banking and financial system as may secure that the available supply of credit and of savings shall be used for enterprises of national advantage, as distinct from those which are useless or socially injurious, and an inquiry into the best method of achieving this purpose. (4) The carrying out of the proposals made by the Genoa Conference of 1922 )<>r the regulation of the value of gold by international agreement.

The report is the work of a committee of which Lord Arnold and Mr. H. B. Lees-Smith, M.P., Jabour and finance experts, were members.