Labour Party Policy

Press, Volume CV, Issue 31006, 11 March 1966, Page 10

Labour Party Policy

Sir, —“F.W.P.F.” need not worry about the Labour Party policy. After years of Tory rule New Zealand will be lucky to even be a State. With the colossal overseas debts, with more and more overseas investments in our industries, plus luxury importing, New Zealanders could look back enviously to the past of a New Zealand-owned State with the national income belonging to the people who earned the income. The latest outrageous financial proposition of a big defence loan from America, swelling America’s war profits, leaves no doubt as to where New Zealand will end.—Yours,

etc AGHAST. March 10, 1966.

Sir, —What a gloomy prospect lies ahead for our “educated electorate!” I refer to Wednesday’s editorial, which presents only the conventional, debt-ridden view of our economy to readers. An impression is given of there being too much money in circulation and thus the heavy taxes to ward off inflation. In fact there is not enough money, as proved by the figures for a typical year, 1965. The gross national product amounted to £1756 million, but the national income was lacking with £l5ll million. A short discourse of this nature can do little to list or investigate our many economic problems, but until the Government and Opposition parties take a realistic view and attempt to find a real solution, none will be forthcoming. So far there has been a skilful handling of problems but no offer or implementation of a solution. The responsibility of the press for stimulating interest and discussion of possible remedies is real. There has not recently been much evidence of it.—Yours, etc., UNSOPHISTICATED. > March 9, 1966.