PREMIERS MEET

Hokitika Guardian, 30 June 1932, Page 5

PREMIERS MEET

ECONOMY NEEDS-

BALANCING STATE BUDGETS

(Australian Press Association.)

CANBERRA, June 29.7

At the resumption Jbf t.ie Premiers’ Conference here to-day, the Premier of New South Wales, Mr Stevens, yielded to the warning given by the Prime Minister, Mr Lyon,-,, that all of the Governments' of Australia must be prepared to make drastic eiiai in their deficits next year.

Mr Stevens said that he hoped to bo able to progressively reduce hi,s : State’s estimate shortage by • four null ions per year. i-Je emphasised that, by .draining at what lie termed excessive economy, they might -damage the national position. He strongly advocated a “scientific” adjustment of exchange in order to help primary producers, 'All* Forgan Smith, the Premier-of Queensland; intimated that lie would do everything in his power towards the balancing of the budgets. He Urged the revision of the Premiers’ Plan. He pointed out that, despite the; Premierr,* Piati, tho -budgets were st ill unbalanced, while unemployment was on the. increase in all of the States. The restoration of confidence .mid Mr Forgan Smith, was as fur off -as ever. Economies themr,elves-, he added, could not possibly establish the bal.pt equilibrium. This could only bo done by the restoration-of parity a* between values and .prices.

ADJOURNMENT RECOMMENDED

TO DEAL WITH THE PROBLEM

CANBERRA. June 29

After explaining that, by ignoring the Premiers’ plan, the Lang Government liad permitted the Now South Wales deficit to increase by five millions above the estimate for the current year, Mr Stevens urged the Premiers’ Conference to make a fresh beginning; that wrs, by adjusting the original Premiers’ Plan to the facts ijl .they now existed, covering the tariff, the exchange, the cost of prodution, and Government expenditure. Thus. lie said, they could- deal with tho problems as a whole, instead of piecemeal. Above all,- a constant endeavour must bo made to get people back to work. He suggested that the Premiers’ Conference should adjourn for a- month ,in order to deal with the problems-outlined;

The Premiers of the other States. Victoria, Tasmania., South Australia and West Australia, expressed their general supping of the Premiers’ plan,