ECONOMY COMMITTEE

Rotorua Morning Post, Volume 1, Issue 9, 2 September 1931, Page 3

ECONOMY COMMITTEE

("Post" Special Commissioner.)

hearing evidence SPLIT STILL CONSIDERED POSSIBLE IN THE LATER STAGES. facts impress members.

WELLINGTON, Tuesday. The .inter-party economic committee has now been sitting for more , than a week and it 'seems that the hearing of evidenee is likely to occupy several days yet. It is not expected that developments of any importance will occur until the conference reaches the stage of deliberating on and framing its report to the House of Representatives. . The opinion still prevails in the lobbies that that stage of the discussions will not proceed very far before a split occurs and the withdrawal of some of the delegates is being anticipated. It is said that, so far,. the work has gone smoothly enough and to what extent predictions will - be fulfilled remains to be seen when the critical stage of sifting the evidenee and drawing up recommendatons is reached. Some of the members of the 'committee confess openly that 'the facts presented have brought home to them the seriousness of the position in a manner they had not previously realised, but it is doubtful whether all the members will be sufficiently impressed with the needs of the moment to ensure unanimity on all points. It is said that some members of the committee were not impressed with the banking evidenee tendered yesterday. It is understood that questions were asked as to the feasibility of raising annually in New Zealand loans of £3,000,000 or £6,000,000 for a- period of three or four years for the purpose of land development and assisting approved secondary industries, but that tbe answers were very non.-committal. It is further understood that a definite proposal was made that a committee of experts should be appointed to advise the Government on financial questions and other matters affecting the development of industry- The suggestion will probably receive consideration when the committee settles down to deliberate-