NEW SOUTH WALES

Evening Post, Volume CX, Issue 70, 19 September 1930, Page 9

NEW SOUTH WALES

EXAMPLE TO AUSTRALIA

MR, BAVIN'S POLICY SPEECH

SYDNEY, 13th September.

In opening the election campaign the Premier of New South Wales, Mr. T. K. Bavin, delivered to a crowded audience at Killara suburb a policy (speech in which he stated that the Government sought approval of the financial agreement reached at the Premiers' Conference.

Mr. Bavin warned the electors that if this agreement was repudiated by any or all of the iStates, thore would be no escape from disaster. "We are, therefore, fighting in this State the battle of the whole of Australia. I have undertaken on behalf of New South Wales to balance our Budget, and now ask for a free hand to1 do so. We shall aim at equality of sacrifice; relief ; for unemployment; reduced cost of public services; maintenance of the highest standards of living that the economic conditions will permit, and insistence that the reduced costs of production shall be accompanied by a corresponding reduction in costs of. commodities. / ECONOMY FIRST. "We shall do our utmost to meet our obligations by economy rather than by taxation. We shall provide loans at low rates of interest for primary producers who are prepared to give employment, and shall continue our efforts for the reliof of unemployment. We will give relief to mortgagors of property who are unable to meet their obligations.'' Mt. Bavin reviewed tho finances of the State and Commonwealth, pointing out that the national income had diminished by eighty millions, and he estimated that the total deficit of the Commonwealth and the States for tho current year, unless expenditure was drastically cut down, would amount to twenty millions. He emphasised that. Australia's difficulties were only postponed, not removed, but if it should bo apparent that they were making a genuine effort to honour their obligations, they would be able to convert the loans as they fell due at a lower rate of interest. He said that before next June they had to raise forty-nine millions from the Australian market for the conversion of internal loans.