STERLING AREA CRISIS
NEW ZEALAND’S PART IN SOLUTION FURTHER STATEMENT BY MR HOLLAND (New Zealand Press Association) WELLINGTON, October 22. New Zealand would probably achieve a surplus of £12,000,000 with the non-sterling world by June next, said the Prime Minister (Mr Holland) today. At the same time a balance with the rest of the world would probably be achieved. Mr Holland was clarifying an announcement he made in the House of Representatives last during discussion on the Finance
Mr Holland said that the target for a non-sterling surplus set New Zealand at the Commonwealth Finance Ministers’ conference earlier this year had originally been £12,000,000, but this had later been increased to £25,000,000. This target was to be reached by June, 1253. Mr Holland said that New Zealand
was still striving to achieve this surglus with the non-sterling world. Cowever, it had been pointed out at the conference that such an achievement was largely conditional upon export prices being maintained. The Prime Minister said that prices for wool had fallen considerably, and though returns for meat and dairy produce had increased these increases had been offset to a degree by increased costs for imports.
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Bibliographic details
Press, Volume LXXXVIII, Issue 26869, 23 October 1952, Page 8
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193STERLING AREA CRISIS Press, Volume LXXXVIII, Issue 26869, 23 October 1952, Page 8
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