LABOUR POLICY

Hokitika Guardian, 22 April 1933, Page 5

LABOUR POLICY

PARTY’S PLANS

OFFICIAL STATEMENT MADE.

(Per Press Association Copyright.)

AUCKLAND, April 21. The Labour Party’s policy statement affirms that a complete reversal of the Government’s policy and its economic? management of the country generally has oecome nou'.seary. Of

the first magnitude, as a means to

achieving this end, the Labour Party purposes giving immediate effect to the following policy:— Banking, credit and currency; Immediate control by the State of the entire banking system,- the State to be the sole authority for the issue of credit and currency. The provision of credit and currency to ensure the production and distribution of the commodities which are required, and which can be economically produced in the Dominion with guaranteed prices, wages and salaries. Mortgages: The conservation of the present holders interests’ in land and homes by a readjustment of all mortgages on the basig of the average prices for the past seven years. Overseas marketing ; Guaranteed prices for primary products; negotiated agreements with Great Britain and other countries for , the marketing of primary products, with reciprocal contracts for the import of those classes of commodities which cannot be economically produed in. the Dominion.

Secondary industries: The fostering of secondary industries so as : to ensure the production of those commodities which can be economically produced in the Dominion, thus providing employment for our own people with a resultant increase in the internal demand for our primary and secondary products, with less dependence on the fluctuating and glutted overseas markets.

Employment: The organisation of productive and developmental works on the following lines: Land development and settlement ; the competition of necessary public works; the construction of backblocks roads, secondary and main highways; assistance to local authorities to undertake approved works; financial assistance in the development of secondary industries. ;

Hours and wages: (1) The utilisation of mechanical inventions, :> new processes and research■ knowledge ; (2) an immediate reduction in the _ hours of"labouF in SHer to .employ a" great number of workers in industry to meet the displacement of labour by machinery; (3) guaranteed wages ana salaries in accord with national production.

Oversells debt; Npgotilitiens with the British Government- and with overseas financial houses for the purpose of converting the overseas) debt to a lower rate of interest, and readjustment to the price levels operating at the time of the raising of the loan; war debt negotiations with the British. Government for the purpose of reducing the principal and interest of the war debt, or its cancellation.

POLICY RECONSTRUCTION.

THE PROPOSALS OUTLINED,

AUCKLAND, April 21. Details of the policy of reconstruction which the Labour. Party would put into operation if it became the Government were made, available in the report of a special committee appointed by the Dominion Conference of the Labour Party. The proposals include the following:—

Immediate control by tho State of the bank system.

The re-adjustment of mortgages Guaranteed prices for primary products.

Orderly internal marketing at guaranteed prices. The fostering of secondary industries.

The organisation of productive and development work. The reduction of working hours. Guaranteed wages and salaries in accordance with national productions.

Conversion, by negotiation of the Dominion’s oversea debt.

Negotiation for the i eduction or the oancelJaftiott of the Dominion war debt