LORD GEORGE’S REMEDY

Hokitika Guardian, 20 October 1930, Page 5

LORD GEORGE’S REMEDY

LOANS AND PUBLIC WORKS. [United Press Association—By Electrio Telegraph.—Copyright.) LONDON, October 17. “Australia has set a precedent for the lowering of governmental costs, and the British Government must" made drastic cuts in its expenditure,” declared Mr Lloyd George, when addressing the Liberal Party’s Conference at Torquay. The Liberals, lie said, proposed tin uwnnoning of a conference of industrial, banking, commercial interests and also of trade unions to review the position,, and to make proposals for reducing the cost of production without lowering the workers’ standard of living. The banks should be urged to agree to a policy of less restricted credits for the financing . c'f industrial development. A national development loan, probably of one hundred millions steeling, should he raised to finance slum clearance and other public works, instead of investing that capital abroad. He did not believe that British wheat growers could compete with the great oversea prairies at the present prices. The proposed quota would be equivalent to a tariff of fifty per cent. He asked them to consider this proposition, namely, this’ country that had the heaviest taxation in the world, a debt of eight thousand millions sterling, also two millions of unemployed, and yet paying subsidy to farmers at the end of the earth who were generally prosperous.