FEDERAL POLITICS

Hokitika Guardian, 16 February 1931, Page 5

FEDERAL POLITICS

PROPOSED 3 YEAR RELIEF (Australian Press Association.) (Received thi° day at 11 a.m., SYDNEY, February IG. The political situation continues in a state of llux. Mlvi.iiOURNK, February 16. The financial agreement representing a voluntary sell agreement representing a \ohmtarly self dental undertaking hv Australian Governments to a ret bleed expenditure to balance the. budgets remained practically a dead lot" ter for six months, owing to Labour left wingers refusal to iccogiiise the needs of the situation. It is now replaced by tin' Canberra agreement, embodying a three year plan for rehabilitation, signed at midnight on Friday by all leaders except Mr Lang. So tar as its promises may hed]) the country, they are dependent upon the goodwill of the caucus. I'arhaments and public are not reassured that all will undertake the fulfilment, which entails radical sacrifice.

The Stock Exchange continues steady despite the political uneertainities and the announcement of the three year plan caused u Blight, firming ill industrial stocks, The proposed special tax on interest, however, cast a shadow over dealings in Government bonds, Yesterday’s labour conference to decide tint matter of appeal to East Sydney voters was hold it) camera but sidelights make it appear there was^u.lively advocacy of rival polices, though no agreement was reached. Grave’s announcement that no advocate of the Scullin-Theodore policy would he allowed on the platform, indicates tin 1 left wingers hold sway, and tl,ieir propagonixt, Beasley, assistant Minister of Industry, will outline the party policy at the opening ol the campaign. Thus will he seen the spectacle of a junior .Minister ursurping the place of tile head of the Government.