PAYING FOR N.Z. IMPORTS

Press, Volume LXXXVI, Issue 26211, 7 September 1950, Page 6

PAYING FOR N.Z. IMPORTS

Will “Just Struggle Through” PRIME MINISTER’S REVIEW Weto Zealand Press Association) kt WELLINGTON, September 6. New Zealand’s export income this year wou.d be £200,000,000. said the Prime Minister (Mr Holland) at the annual meeting this alternoon of the United Kingdom Manufacturers' and New Zeaiand Representatives’ Association. Every penny would be spent by the end ol the year. “We are struggling to live within our income,” continued Mr Holland We have given more import licences than we should have, and we are lust going to struggle through." How could the Government have given greater freedom of control from import licensing when New Zealand was spending every penny it could ask s d - AU ’he Government could hHve done would have been to take from someone to give to someone else.

Mr Holland paid a high tribute to com {punity, and said that it should never be forgotten that the farming community provided the inco ™ e which the country lived. Tne -United Kingdom Manufacturers’ Association in its report was asking lor import control through exchange control, said Mr Holland. That was not practical politics. When the country short .. of overseas funds the S°'fernment must allocate them to see that there was a return to the Treasee y that°th? the cust ° ms > and ” must Sx.e that the same return was gained eac .h £1.000,000 spent as whin everything was free from control. of . the . reas °ns for the need to retain control was the 1 per cent or 2 ISn S ent ’K Who bou e ht overseas exchange above par, said Mr Holland Pressure was then exerted on the Govthat * and Was those the a re y stete g tionT° Were res P° for