POLITICAL OUTLOOK

Wairarapa Times-Age, 5 August 1939, Page 7

POLITICAL OUTLOOK

1 - v — ATTEMPT TO FORM COALITION. PREDICTED BY MR ATMORE. (By Telegraph—Press Association.) WELLINGTON. This Day. A prediction that an attempt would be made in the near future to form a Coalition Government in New Zealand to serve the interests of the London financiers was made by Mr H. Atmore (Independent. Nelson), speaking in the Budget debate in the House of Representatives yesterday. Mr Atmore expressed the opinion that New Zealand should not accept lhe terms dictated by the financiers in London, as they would impose a burden which could not be carried without the standard of living of the people suffering. The same policy as was adopted in 1931 was being pursued again by the London financiers. They wanted to bring about another Coalition Government. because if the standard of living of the people was to be curtailed, it could not be achieved through those responsible for raising it. Th great problem today was the aggregate burden of interest. Figures were quoted by Mr Atmore showing that the aggregate interest burden in New Zealand was £45,000.000 annually. which was equal to one-third of the national annual production. It was obvious that that could not be increased without cutting into some other section of the national income and diminishing it. If New Zealand was to be compelled to pay more in interest out of a diminishing national I income, then cuts would have 1o be made somewhere. "I hope this Government will stand firm and see that nothing happens to affect the standard of living of lhe people." said Mr Atmore, in urging hal the first charge on production should be to provide a proper standard )f comfort for the people. '