N.Z. REHABILITATION

Hokitika Guardian, 16 August 1933, Page 3

N.Z. REHABILITATION

PLAN SUBMITTED TO MINISTER.

“NOT IN DOMINION’S INTERESTS.”

(Per Press Association—Copyright)

AUCKLAND, August 15

Some months ago a deputation of businessmen, headed by the Mayor (Mr Hutchinson), submitted a financial plan to the Minister of 'Finance (the Hon. J. G. Coates). The plan included the raising of £10,000,000 in New Zealand for rehabilitation purposes. Mr Coates, in a lengthy reply just received, says that, in .his opinion, the plan will not be in the real interests of the Dominion,

“Without a' rise, in the oversea , prices of our products, anything we do internally would probably act only , ill the direction of spreading the burden without relieving the situation. A compulsory loan would be a great mistake.” Referring to'•the suggestion that £2,000,0C0 should be used for the relief of unemployment, Mr Coates said that-if. the relief pay rates.were sub-, stantially increased as suggested, the number of the unemployed would increase considerably. The proposed subsidy of £3,500,000 to primary producers would .cost -more than, that,, and j the country could not afford,both the subsidy and high exchange, " “New Zealand must continue to grapple with her problems, and adopt-'meas-ures that will not hamper her recovery. The present 'indications; are that worst is over.”