MONEY FROM BRITAIN

Evening Post, Volume CXXXVIII, Issue 54, 1 September 1944, Page 7

MONEY FROM BRITAIN

FURTHER STATEMENT

Throughout the Budget debate in the House of Representatives, Opposition members have sought more informar tion about the lump-sum payments from the United Kingdom Gbvernment, and, according to, a reply the Prime Minister (Mr. Fraser) made to a question last night when Mr. W. J, Poison (National, Stratford) was speaking in the debate, a further statement on the subject may be given next week. Mr. Poison said he was sorry to see that New Zealand had been obliged to go cap in hand to Britain. The Prime Minister: That is not correct . I Mr. F. W. Doidge (National, Tau-j ranga): Will the Prime Minister tell us all about it? The Prime Minister: Later on—next week. "The farming community would -have j more respect for the Government if it' said, We do not intend to pay you; we are going to collar the money,'" said Mr, W. A. Bodkin (National, Otago Central) in discussing the lump-sum payments. Mr. Bodkin contended that adjustments should have been made from year to year in respect to New Zealand's exports. If the whole of the balances had been paid into the Stabilisation Account the . country would have emerged from the war period, with great financial strength. If the Government did the right thing everybody wauld be satisfied and every section of the community would share in the country's prosperity. It made no difference to the exchange position I whether the money was placed in the Stabilisation Account. It went into the exchange pool and strengthened every manufacturing concern and provided1 funds for the merchants and guaran- I teed prosperity such as few countries I would enjoy. Mr. Bodkin said the Minister - of Finance was only concerned with the wiping out of private enterprise in every form. He wanted to make it impossible for private enterprise to function and place New Zealand in such a position that everybody would have to lean on the Government and have to crave for help. That would! make the road to the totalitarian State . easier.