ENGLISH-OWNED FACTORIES

Press, Volume LXX, Issue 21226, 26 July 1934, Page 10

ENGLISH-OWNED FACTORIES

—— ♦ i POSSIBILITY OF CLOSING j RESULT OF NEW TARIFF The possibility of English-owned factories in New Zealand being closed down owing to their being adversely affected by the new tariff schedule was mentioned at the meeting of the executive of the Canterbury Manufacturers' Association last evening. The new tariff schedule was one'of the subjects on the agenda paper, but there was only a brief discussion, and it was stated that the matter was now being considered by the association's development of industries committee. Mr F. L. Hutchinson said that the opinions of the four men comprising the commission, which it was proI posed to be made into law, were open to question. Opportunity ! should be given to go very carej fully into the provisions of the new : schedule and to criticise their. closely. Mr F. W. J. Belton, president, said that a very serious aspect of the new schedule had been brought to his notice. It was very much within the range of possibility that certain factories which were owned by English firms. and which had been established under the old tariff, would be affected to such an extent by the reductions in duties that the English directorates were seriously thinking of closing them down. This would mean the disbandment of the various clerical and factory stall'r. Not only would there be an increase of unemployment, but the capital that had been invested here would bo wasted. It would not pay to send back the plant and equipment to Ensland end much rnone;. was also bound up in land and buildings.