PRODUCTION AND TAXATION

Press, Volume LXXXIX, Issue 27050, 27 May 1953, Page 14

PRODUCTION AND TAXATION

‘EFFECT OF “COLOSSAL BURDEN ” (New Zealand Press Association) DUNEDIN, May 26. The greatest drag on the Dominion’s production was the colossal burden of taxation that the producers were forced to bear, Mr J. E. D. Roberts, of Middlemarch, told members of the Meat and Wool Section of Otago Federated Farmers annual conference today. "High taxation is discouraging saving, development, and production. The reason for this taxation is undoubtedly too much Government expenditure,” he gaid. "The Government wants to discourage everyone’s expenditure except its own." Poor terms of trade in any of the country’s exports meant import and exchange controls, behind which some inefficient secondary industries were able to protect themselves from competition, said Mr Roberts. "Inefficient and high-cost secondary industries can have far-reaching adverse effects on our primary produce exports."

OVERSEAS EXCHANGE RATES

VEGETABLES AND FRUIT

A transhipment pf bananas is now in retailers’ hands. A catch crop of broad beans, grown in the Oartiaru district, is oh sale. Potatoes are in plentiful supply. New Zealand marmalade oranges are now available. Island oranges, which sell at 9jd per lb, are still in plentiful supply. Pineapples, coconuts, and mandarins add variety to retailers' stocks. Cabbagesand cauliflowers remain cheaply priced.

Retail Prices Potatoes, 3jd per lb; onions, 6d per lb; carrots, 4d to 6d per lb; parsnips, 6d per lb; leeks, Is 3d bunch; celery, 9d to Is 6d a head; garlic, 2d an ounce; marrows, Is each; pumpkin, 6d per lb; cauliflowers. 6d to Is 3d each; cabbage, 6d to Is each; green peas. 2s per lb; broad beans, 8d per lb; spinach, 8a to Is a bunch; brussels sprouts. Is to Is 6d per lb; Southland swedes, 4d per lb. Lettuces, 4d to 8d each; beetroot, 6d per lb; cucumbers, Is to Is 3d each; tomatoes, 3s to 4s per lb; tree tomatoes, Is 8d and 2s per lb; kumeras. Is 3d per lb. Apples, 9d, lOd, and Is id per lb; pears, Is to Is 2d per lb; quinces, lOd to Is per lb; Island oranges. 9Jd per lb; Island grapefruit. Is per lb; passion fruit, 3d each-; New Zealand lemons, Is 7d per lb; cape gooseberries, 2s 3d per lb; grapes, 6s to 10s 6d per lb; rhubarb, Is a bunch; bananas, 10jd per lb; limes, Is per lb; pineapples, 3s to 4s each; coconuts, Is to Is 6d; mandarins, 2s per lb; marmalade oranges, Is per lb.

" ' 1 Latest telegraphic transfer rates as advised by the Bank of New South Wales are as follows:— ,, r, . Buyers Sellers N.Z. on London— £N.Z. to £100stg. 100/7/6 New York— 101 Doi. to £1 N.Z. .. 2.8088 Montreal2.7769 Doi. to £1 N.Z. .. 2.7908 Australia— 2.7547 £A. to £100 N.Z. 124/10/9 Fiji— 124 £F. to £100 N.Z. .. 111/11/9 Western Samoa— 110/4/3 £S. to £100 N.Z. .. — South Africa— 100 £N.Z. to £100 S.A. 99/14/0 Belgium— 101/5/6 Francs to £1 N.Z. 141.89 Denmark— 137.40 Kroner to £1 N.Z. 19.59 France (Metropolitan) — 18.91 Francs to £1 N.Z. 991.31 Holland— 963.77 Guilder to £1 N.Z. 10.68 Norway— 10.42 Kroner to £1 N.Z. 20.21 Sweden— 19.54 Kroner to £1 N.Z. 14.58 Switzerland— 14.24 Francs to £1 N.Z. 12.23 Ceylon— 11.99 N.Z. pence to rup. 17 29-32 Hong Kong— 18 13-32 N.Z. pence to dol. 14 45-64 India— 15 21-64 N.Z. pence to rup. 171 Pakistan— 181 N.Z. pence to rup. 25| Singapore— N.Z. pence to dol. 27J 26 25-64 28 45-64 ManilaPesos to £1 N.Z. .. — Western Germany— 5.53 DM. to £1 N.Z. .. — 11.48 ■