▁belief ▁in ▁" the ▁need ▁to ▁balance ▁bud gets , ▁lower ▁costs ▁to ▁business ▁and ▁restore ▁confidence " ▁and ▁the ▁Ly ons ▁period ▁gave ▁Australia ▁" st ability ▁and ▁event ual ▁growth " ▁between ▁the ▁drama ▁of ▁the ▁De pression ▁and ▁the ▁out break ▁of ▁the ▁Second ▁World ▁War . ▁A ▁lower ing ▁of ▁w ages ▁was ▁enfor ced ▁and ▁industry ▁tar iff ▁prote ctions ▁maintained , ▁which ▁together ▁with ▁che aper ▁raw ▁materials ▁during ▁the ▁ 1 9 3 0 s ▁saw ▁a ▁shift ▁from ▁agricult ure ▁to ▁manufact uring ▁as ▁the ▁chief ▁employ er ▁of ▁the ▁Australian ▁economy ▁– ▁a ▁shift ▁which ▁was ▁cons olid ated ▁by ▁increased ▁invest ment ▁by ▁the ▁common wealth ▁government ▁into ▁defence ▁and ▁arm aments ▁manufact ure . ▁Ly ons ▁saw ▁rest oration ▁of ▁Australia ' s ▁exports ▁as ▁the ▁key ▁to ▁economic ▁recovery . ▁ ▁A ▁de valu ed ▁Australian ▁currency ▁assist ed ▁in ▁rest oring ▁a ▁fav ou rable ▁balance ▁of ▁trade . ▁Tar iffs ▁had ▁been ▁a ▁point ▁of ▁difference ▁between ▁the ▁Country ▁Party ▁and ▁United ▁Australia ▁Party . ▁The ▁CP ▁opposed ▁high ▁tar iffs ▁because ▁they ▁increased ▁costs ▁for ▁far mers , ▁while ▁the ▁U AP ▁had ▁support ▁among ▁manufact ur ers ▁who ▁supported ▁tar iffs . ▁ ▁Ly ons ▁was ▁therefore ▁happy ▁to ▁be ▁perce ived ▁as ▁" prote ction ist ". ▁Australia ▁agreed ▁to ▁give ▁tar iff ▁preference ▁to ▁British ▁Empire ▁goods , ▁following ▁the ▁ 1 9 3 2 ▁Imperial ▁economic ▁conference . ▁The ▁Ly ons ▁Government ▁lower ed