GOING TO LONDON

Wairarapa Times-Age, 27 April 1939, Page 7

GOING TO LONDON

FINANCE MINISTER LEAVING ON SUNDAY WILL DISCUSS RENEWAL OF LOANS. AND QUESTIONS OF TRADE & DEFENCE. (By Telegraph—Press Association.) WELLINGTON. This Day. After a special meeting of Cabinet yesterday afternoon, the Prime Minister,' Mr Savage, announced that the Minister of Finance, Mr Nash, was to proceed to England almost immediately to discuss with British representatives the questions of loans falling due this year, trade relationships and defence. Mr Nash will leave Wellington by the Limited express on Sunday night for Auckland to join the Monterey, which is due to sail for San Francisco the following day. Mr Savage said Mr Nash expected to return in July. If he were able to get back from England by then, he would be in ample time for the presentation of this year’s Budget in the House of Representatives. The presence of Mr Nash in London would enable him to discuss first hand several matters of importance to the two countries with the people concerned. This method was preferable to negotiations by cable and correspondence. “The three questions that Mr Nash will discuss are so related that it is almost impossible to separate them,” said the Prime Minister, “and Mr Nash’s presence in England would be justified in discussing any one of them. No one could say that we should not have all the understanding and appreciation of our mutual interests that we could have.”

In view of the restrictions to be imposed on imports into New Zealand from all sources ror the second half of this year Mr Nash’s visit is of particular interest, and it is generally believed that the trade relationships between the Dominion and Great Britain in the light of these restrictions has been an important factor in his early departure for England. Loans aggregating approximately £17.000,000 iall due this year, and negotiations for the redemption and the refinancing of this sum will be another important phase of the Minister’s mission to London. The absence of Mr Nash from New Zealand will necessitate the reallocation of his portfolios. Mr Savage is to take over the portfolio of Finance. The Minister of Internal Affairs, Mr Parry, who was the former Minister of Pensions, will assume control of the Social Security Department. The Minister of Agriculture, Mr Lee Martin, will take control of Marketing. The Leader of rhe Legislative Council, Mr Fagan, will take over the portfolio of Customs.