HIT AUSTRALIA.

Auckland Star, Volume LXX, Issue 33, 9 February 1939, Page 11

HIT AUSTRALIA.

N.Z. IMPORT POLICY

Federal Trade Loss May Reach £1,000,000. REDUCE FAVOURABLE BALANCE* United Press Association.—Copyright. (Received 12 noon.) SYDNEY, this day. The "Sydney Morning Herald" Canberra correspondent says that according to unofficial estimates by Federal officials, Australia may lose trade valued at £1,000,000 annually as a result of the new trade restriction policy in New Zealand. This loss would reduce Australia's favourable trade balance with the Dominion to approximately £4,000,000 a year. MR. SAVAGE'S RETORT. EMBARGO ON POTATOES. (By Telegraph.—Press Association.) WELLINGTON", Wednesday. "It has taken them a lon<r time to discover that excune," said the Prime Minister, Mr. Savage, referring to comment l>y the Australian Prime Minister, Mr. Lyons, on the Australian potato embargo position. "The restriction on the imports of Australian goods is a recent development," he added. "This other thing has been going on for years and the New Zealand Government still hae sufficient intelligence to be able to realise that New Zealand stands to gain by expanding trade not only at home but abroad. "Any control of imports is for the purpose of eeeing to it we have something in the nature of fair and even dealing, and that cannot be said of the position between Australia and New Zealand to-day, where purchases of Australian goods by Xew Zealand amount to £7,000,000, while Australia purchases from us goods to the value of somewhere about £3,000,000."