FINANCIAL DEBATE

Wairarapa Times-Age, 22 July 1938, Page 5

FINANCIAL DEBATE

MR HAMILTON CRITICISES LABOUR POLICY Promises to Reduce Taxation Not Honoured THE PRIME MINISTER’S DEFENCE / (By Telegraph—Press Association.) WELLINGTON, This Day. The Financial Debate was opened in the House of Representatives last night by the Leader of the Opposition, the Hon A. Hamilton. Speaking for an hiur and 20 minutes, Mr Hamilton criticised various phases of the Government’s policy. He said that thousands of people among all classes of the community would be intensely disappointed that the Government had taken no steps to fulfil certain promises it made before last election. These included promises to- remove both the sales tax and the rate of exchange. The expectation that the Government would honour its promises to reduce taxation had not been realised, said Mr Hamilton. Had the Opposition been in office the unemployment tax would have been substantiallv reduced, if not abolished altogether. Mr Hamilton contended that last year’s surplus was £1,666,000 and no^ 818 ’ 80 ° i as announced by the Government. Socialism, overseas credits, housing, the unemployment figures, and the guaranteed price scheme for dan y produce were among the other subjects discussed by Mr Hamilton. The Prime Minister, the Rt Hon M. J. Savage, followed Mr Hamilton. The Dominion’s trading position and the use of the country’s sterling balances was defended by him. He said that so far as the United Kingdom was concerned its share of the New Zealand importtrade had increased very materially in the few years. Every penny of Government expenditure, he added, could be justified. The Government’s social security proposals were definitely going through this session. The Budget showed a high level of prosperity becaufe more people than ever before had shared in the prosperous tim ßoth Mr Hamilton and Mr Savage received rounds of applause at the conclusion of their speeches. They were the only speakers last night. The House adjourned at 10.7 p.m. until today, when the debate will be resumed. Yesterday afternoon was occupied in discussion on the annual report of the Pensions Department.