BETTER TIMES

Hokitika Guardian, 29 July 1933, Page 6

BETTER TIMES

STRIKING SIGNS OF RECOVERY'

NEW SOUTH. WALES’ PROGRESS

SYDNEY, July, 21

Striking details of the progress toward the economic recovery of New South Wales since.his Government took over control from the extremist LabourLeader Hr Lang, were given By. the Premier, Mr Stevens, in a speech last Saturday night. He said that with the unexampled signs of improvement in the State, business courage' had supplanted fear. No. country in' the world hid a record of achievement greater than that which they c-ould recite in the terms .of Australia’s recovery, and New South Wales was not behind the rest of the Commonwealth. “We now hsive. our severest sacrifices behind us,” Air Stevens said, “and before us we have the prospect of lower taxation, lower charges for services, more employment, and greater business activity. For months past we have .seen the flow of rewards for our sacrifices increasing., Since the revival commenced more than 1 20,000 men and women liave got tlieir jobs back in tin* factories. The numbers dependent on Government aid in New South Males have decreased from -154,000 to 98,000. Despite lower prices tlie value of the wholesale turnover is £500,000 a month greater now than it was a year ago. r lhc value of buildings about to be commenced iu the metropolitan area was £802,000 in .1 line, the highest figure for more than two years. It was three times as much as in June last year.

j “In the short space of 12 months the deficit in public finances has been reduced by q little more than £lo.ooo,OOti That result was brought about by an increase in the public revenues of £6(000,000, and a decrease in - the public expenditure of £1,000,000. The reduction' jn the annual rate of expenditure . was greater than the figure disclosed because a number of the economies introduced have operated for only part of the financial year. It is in the' interests of the whole nation-that there should he a progressive reduction ,jn., tlie cost of government; and wo shall not hesitate as a. Government to play our part in that important task. “Probably the most remarkable feature of the financial position of New South AVa! cs'is the abnormal increase in public revenues namely, £6,000,000 over that of the previous year ; this in spite of the fact that there were reductions in taxation, in charges for public services in‘railway freights and faros and in - Crown levies of all descriptions. These represented a remission in taxation for the year of £2,000,000. After allowing for all this iha .-revenues show the remarkable crease disclosed. That increase represents an i uifproVembnt of 14 per cent nn the revenues of last year. There you have; probably thp greatest .and most reliable index ’-'procurable of increasing 'business activity.”