N.Z. FINANCES ARE SOUND

Hawke's Bay Herald-Tribune, Issue 96, 10 May 1937, Page 7

N.Z. FINANCES ARE SOUND

PresB As*n,

London Comment IsFavourable NO ANXIETY AT HOME

l By Teleeraph—

Copyright.)

(Eeceived 10, 10.30 a.m.) LONDON, May 9. "Investors cnay whole-heartedly ac cept the assurances of Mr. Savage and Mr. Nash," says the Investor's Chronicle. "These Ministers' statements hanish any fear that NCw Zealand jSocialism is a cousin of the Socalism Mr. J. T. Lang brandished during his brief inglorious reign in New South Wales. "Both Mr. Savage and Mr. Nash are true to the Socialist doctrine of generous expenditure on public works which have been substantially increased and. as New Zealand is not a large country, conservative financiers might prefer to reduce this outlay, especially as pros* perity has returned to the Dominion and these funds would possibly be more valuable if they wero retained for uso when prosperity waned, but the generul mpvement of New Zealand economy demonstrates that if the Savage Government is too generous in the opinion of some people, there is at present no anxiety regarding the Budget. "Although this increased expenditure may be unpopular with the taxpayers, it does not suggest that the country's finances are seriously overstrained. It is encouraging that the Dominion 's income has improved, not only because prices have risen, but mainly because output has increased, while, if anxious regarding the future of the debt service, Britain can largely alleviate the fears by a generous tariff revision at the Imperial Conf erence.