NEW ZEALAND SOCIALISM

Taranaki Central Press, Volume IV, Issue 429, 10 May 1937, Page 5

NEW ZEALAND SOCIALISM

ASSURANCE IN LONDON "NOT A COUSIN TO LANG SOCIALISM" Recent Statements By Messrs Savage And Nash Press Association—Copyright. Received May 10, 12.5 p.m. London, May 9. “Investors W wholeheartedly accept the assurances of Mr M. J. Savage and Mr W. Nash,” says the Investors’ Chronicle. “The Ministers’ statements banish the fear that the New Zealand Socialism is a cousin of the Socialism Mr J. T. Lang brandished during his brief but inglorious reign. “Mr Savage and Mr Nash are true to the Socialist doctrine of generous expenditure on public works, which has been substantially increased, and as New Zealand is not a large country Conservative financiers might prefer to reduce the outlay, especially as prosperity has returned to the Dominion; and funds would possibly be more valuable if retained for use when prosperity waned. “But the general movement in New Zealand demonstrates that if the Savage Government is too generous in the opinion of some people, there is at present no anxiety regarding the Budget. “Although tho Increased expenditure may be unpopular with the taxpayers, it does not suggest that the country’s finances are seriously overstrained. It is encouraging that the income has improved not only because prices have risen, but mainly because the output has increased.”