FACTS AND FINANCE

Hokitika Guardian, 11 September 1931, Page 6

FACTS AND FINANCE

GOVERNMENT’S CHIEF WORRY

PRIMARY PRODUCERS

The necessary privacy of the deliberations of the Economic Committee -set up by the Prime Minister, with the approval of all the political par- ' ties, to examine closely the finances of 1 the Dominion and to report to Par- | liniment has afforded a number of the, ’ critics of the- Government an opportunI itv to spread abroad alarming stories 1 concerning its administration in the | past and its provisions for the future. { Among other stories circulated by. these bu-sy-hodies is one to the effect that no proviso!! was made in the Budget for the necessary exchange on London. an item running • into . some''•hundred thousands; another that the Customs revenue for the year would be greatly below the- estimate;, yet another that the postal revenue would he far below the Minister’s estimate, and finally that the aggregate revenue for the financial, .year .Would he some four, millions ' short of the Minister’s predictions. Interviewed in regard to these startling assertions, Mr Fol’bes smiled and being a busy man condensed his retort into half a dozen sentences. "The Budget,” he said, "makes adequate provision for all requirements in Tespeet to exchange -so far as they can he forseen. No unexpected development has occurred in this respect. . . The trade returns have been published and the public can see the position for themselves. • The proposed increases of Customs and Excise duties could not he operative in the first quarter of the year. The estimates of the Department were made after the closest inquiries. . '. The returns of income to the present bear out the estimate of the Budget. Th c Postmaster General is satisfied that the amount estimated for , his department will he available. . • The suggestion that the aggregate revenue for the year might be four millions below the estimate was simply absurd.” Government finance. Mr Forbes said in conclusion, needed the utmost attention, but the big problem of the moment was the position of the primary producers.