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Salient: An Organ of Student Opinion at Victoria University. Wellington Vol. 23 No. 6 1960

Promises Fulfilled

Promises Fulfilled

Most Labour promises have been carried out, and the party can also say that its measures to rescue the economy from the 1957-58 balance-of-payments crisis have been successful. However savage the 1958 budget was, the economy is once more in fairly good shape, partly because of the effects of the reductions in purchasing power caused by the penal clauses in the budget. If further tax remissions can be made this year Labour should be lucky enough to find that many people will have forgotten the dark days when petrol was 4/2 a gallon. With more money to come and go on the government will be able to carry out its few remaining promises, such as a 100 per cent, subsidy on capital expenditure on old peoples' housing. Measures like this could be a decisive factor in the election which will come soon afterwards, for the result is not at all predictable. Eighteen months ago Labour would certainly not have won an election, but things have improved a lot since then, and the government now has a fighting chance. National can not now hope merely to trade on the resentment at the 1958 budget, as they did quite successfully for a time.