PARLIAMENT

Evening Star, Issue 22145, 27 September 1935, Page 10

PARLIAMENT

TODAY'S SITTING LABOUR CRITIC ON MR STEWART’S PLATFORM . [Per United Press Association.] WELLINGTON, September 27. The House met at 10.30 a.m. Mr Lee was granted one day’s leave of absence on account of illness in his family, and Mr Jordan four days’ on account of urgent public business. The Christchurch District Drainage' Amendment Bill (Mr Howard), and the Featherston County Water Race Districts Validation Bill were read a first time and referred to the Local Bills Committee. The financial debate was resumed by Mr M‘Leod. who said that, as far as he was able to judge, none of the speakers had attacked the Budget as a Budget/. Most of the Opposition speakers dealt with the monetary system, and he thought the people of New Zealand preferred the devil they knew to the devil they did not know. He congratulated the Minister of Finance and the Government on the actions taken to meet the depression, and on the success of those actions. Local body securities were higher today than they have been since the depression. He knew the country was crying out for taxation reduction, and he thought that was necessary, but a mort important thing about the Budget was the carrying out of the promises to the electors. Mr ,Howard had asked who had asked for a Reserve Bank. Mr M'Leod said it was the borrowings of the past that made necessary a reserve bank, and he had never known the Labour Party oppose borrowing. ■

Mr M'Leod thought the Government should take some drastic actioa. to check imports from Australia, He said that in 1934 New Zealand took. 10.33 per cent, of its imports from Australia, and he thought, as Britain was New Zealand’s -best customer, New Zealand should do as much trade with Britain as possible. Only in two years in the last 10 years had Australia taken more than 2 per cent, of New Zealand’s exports. He did. not thing the Australian people and the Australian Government had played the game as far as New Zealand was concernted. Mr Munro criticised Mr Downie Stewart’s speech at Dunedin. He said Mr Stewart got leave from the: House on the_ ground of urgent public business and he used it to .make an attack on the Government. Mr Stewart had urged the need for Cabinet reconstruction, and he wondered if Mr Stewart had the same instinct that impelled rats to leave i a sinking ship and whether history would repeat itself, and that after the next election Mr Downio Stewart would be Prime Minister of New Zealand.. He hoped not.

Mr Munro said the Government members should be well satisfied with the Budget, but he thought it was rather an accident, largely _ due to the sale of gold and death duties. It was a good Budget and a lucky Budget, and he wondered if the run of luck was going to continue to favour the Government.

Mr Jull said no loss had yet occurred to the Government in the transfer of mortgages from the State Advances Department to the Mortgage Corporation, Thirty-six millions of mortgages were transferred to the corporation, for which 29 millions’ worth of debentures were issued, leaving seven million in abeyance for adjustment; but with the improvement in the country’s condition the position of doubtful mortgages was steadily getting better. He thought some relief might have been given in the sales tax. Every consideration also should be given to the removal of primage duty at ' the earliest possible moment to assist the United Kingdom exporters to New Zealand. He thought people should keep‘in mind,' when referring to the tariff, that British goods included more * than those _ from the United Kingdom. The minimum price of wheat in Canada was fixed bv the Government to prevent speculators bearing down prices to the producer, but wheat was selling at Winnipeg at a considerably higher price than the fixed minimum at which the Government would dmy.