FEDERAL FINANCE

Hokitika Guardian, 19 April 1932, Page 5

FEDERAL FINANCE

unemployment loan money NEW SOUTH WALES CUT OUT (Australian Press Association.) MELBOURNE, April 18. The Premiers’ Conference to-day passed a resolution affirming it,, adherence to the Premiers’ Rehabilitation Plan, and undertaking to meet interest obligations, and to. continue progressively to reduce their budget deficits.

Mr TuneclifTc, the acting Victorian Premier, was a dissentient. He refused to be bound by the plan except as to the meeting of, Victoria’s interest obligations, which is endorsed by his Government. He considered that there should be a modification of the original plan.

The Conference decided, in view of Mr Lang’s attitude, to cut off NewSouth Wales’ share of loan money for unemployment.

ALLEVIATION OF UNEMPLOYMENT.

THREE MILLIONS REQUIRED,

At the conclusion of the Premier’s Conference, Mr Lyons made a statement that so far as the unemployment issue is concerned the conference concluded of the premiers of the four States, ivns now eVolvilig n plaii for the expenditure of fndiiey to alleviate Unemployment, The Conference was vet wholly abortive, and the door was still open to Victoria. A further conference is being held at the end of May to view the finan- / cial position of the Staters. It is unofficially stated that the Commonwealth will approach the Commonwealth Bank Board with a request for at least three mill on pounds to enable the States, which wil be Signatories, to plan to tide the unemployed over the winter months.