DOMINION’S FINANCES.

Hokitika Guardian, 1 October 1931, Page 6

DOMINION’S FINANCES.

CAUSES GRAVEST CONCERN

MR FORBES’ STATEMENT,

(By Telegraph—Per Press Association)

AVEL LiliNG TON, October. 1

It i-s understood that the continued adverse State Dominion’s finances xs causing Cabinet the gravest concern, and even while efforts are being made to restore the budgetary position for the current financial year, the position is becoming steadily worse as the result of external factors over 'which the Government can have no control. It is gathered that the latest figures furnished to Cabinet by the Treasury are down to a greater extent than it was previously anticipated they would he, and the awkwardness of the situation is accentuated by the uncertain exchange position caused by the departure of the Old Country from the gold standard. It is said the steps that Cabinet will he obliged to take in its endeavour to balance the budget will cause something of a -shock when the proposals are played before the House by the Finance Minister next week.

Questioned this morning as to the latest aspect of the financial position, Mr Forbes said there is no questioning the fact it was difficult. Uncertainty was added to because of the difficulty in forceeing to what extent State Trading Departments will he affected by the prevailing conditions. He indicated he could make no definite pronouncement at the moment as to the financial position, hut it would he a subject of detailed information to he given. Parliament next week.