ANOTHER POLICY

Rotorua Morning Post, Volume 1, Issue 24, 21 September 1931, Page 3

ANOTHER POLICY

("Post" Special Commissioner.)

' wellington, Saturday. The member for Egmont, Mr. c. a. Wslkmson, on behalf of the Independent group in Parliament, has issued the following statement of the policy which the Independents consider should be adopted to remedy the country's position: — Mr. Wilkinson said that the evidence .disclosed that a very grave position existed in regard to the financial situation of the country, and on behalf of the Independent group, he made the following recommendations to meet the position: — Recommendations (1). Financial interest on all Do-minion-held Government loans, local body loans, mortgage interest, ehattel securities, private deposits and debenture interest, to be subject to a reduction of 20 per cent. per annum, this reduction not to apply to savings bank deposits. (2) All rents to be reduced by 20 per cent. Where interest and rent reductions have alredy been made on terms corresponding with the above, these provisions are not to apply. (3).. In order to prevent dislocation and hardship, a limited moratorium for a periou to be declared. Bank Charges (4). Public bank rates for deposits not to exceed 35 per cent. per annum, lending rates to be based on 5 per cent. per annum for the first class of accounts. (5). Private savings banks and building society deposit rates to be on the same basis as public banks, and lending rates to be in accord with public policy. (6). In order to give further flexibility to the existing provisions affecting loans, the State Advances Act to be amended to give authority to the State Advances Board to readjust any loan, whether or not the mortgagor be in arrears with any instalment or other pavment under his mortgage, by treatment of the balance of principal then unpaid, togetker with any arrears. Loan's Losses Power should also be given to the boarcL to write off losses in respect to individual loans. In order to meet the present and possible future losses of the Department the accrued sinking fands within the office should be made available for this purpose. (8). The cost of living to be reduced by the reduction of customs taxation upon necessities, and especially in regard to the wheat and flour duties, the present rate of customs tax amounting to approximately 200 per cent. in each case. Customs Reductions (9). The consideration of further reductions in customs taxation and the substitution of pai't customs and part saies tax on imports, which would reduce the price of goods to the public and at the same time yield pracUca'ly the same revenue to the. State, the principle being that wholesale and retail profits on customs taxation would thus be eliminated. (9). Taxation to be imposed upon the profits of power boards and borough and city trading concerns, all of which compete with private enterprises. (10). Land tax to be abolished and income tax to apply to all, commencing on net ineomes of £200 per annum; a graduated increase being made to make good the loss of land tax. Liquor Licenses

(10). Liquor license fees to be graduated and increased, local bodies receiving the present fees direct from State. (100). Stamps duty to be graduated on receipts and cheques of over £25. (12). Realising the fact that large sums of money are sent to overseas lotteries from the Dominion, I believe that the time has come to consider the question of the adoption of preventive measures, or alternatively the establishment of a State lottery in New Zealand. (13). Gift duty concession to be abolished. Petrol Tax Increased (14). An increase to be made in petrol taxation, the proceeds being appiied to the relief of local bodies. The present prices to be maintained by the oil companies paying the additional tax. (15) .• Departmental votes to be rationed in accordance with available income. (16). Education vote to be closely examined with the object of curtailing total expenditure by £500,000 per annum.

Savings In Befence (17). A saving in defence to be made by reducing the number of naval vessels by one; this would save about £200,000 per annum. Provision should be made for aeroplane and submarine defence. (18). A full inquiry to be made in regard to the management and methods of the Public Works Department also in regard to works in contemplation and those under construction. Naiional Government Needed In order to carry out and put into operation the necessary measures to give effect to these recommendations, I suggest that a National Government be established, that future parliaments be el'ected for a period of five years, the number of Ministers to be reduced to ten, and to be elected by the House for the full period of Parliament, states Mr. Wilkinson. The number of Legislative Councillors should be nominally about 25. The unemployment problem having developed in such a marked degree, I am strongly of the opinion that the Minister should devote his whole time to this matter and in place of the relief schemes which are a prominent feature of the Unemployment Board's policy, substitute a definitely constructive policy of reproductive works.

INDEPENDENTS VIEWS reductions in customs, bank charges, and rents. OVERHAUL OF DEPARTMENTS.