MANUFACTURERS MAY GIVE EVIDENCE
The New Zealand Manufacturers’ Federation is likely to submit evidence to the Royal Commission on Monetary, Banking and Credit Systems. The council of the federation, when it meets this week, will consider a draft of evidence to be submitted.
This information was given in a letter from the federation received last evening by the Canterbury Manufacturers’ Association. The possibility of presenting joint evidence with other bodies, such as the Associated Chambers of Commerce—as was done at the time of the taxation inquiry—is also being considered. The council of the association will ask the federation to include in its evidence representations on the functions of the Capital Issues Committee. This was decided on the motion of Mr C. S. Peate.
“It seems quite ridiculous to me that a large company has to go before the committee if it wants to increase its capital by more than £lO,OOO. Perhaps a percentage basis would be the way to get over it,” said Mr Peate. In reply to the chairman (Mr A. H. Lee) he said he knew the matter had been considered by the federation but he would like to see it placed before the commission.
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Press, Volume XCI, Issue 27637, 19 April 1955, Page 12
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197MANUFACTURERS MAY GIVE EVIDENCE Press, Volume XCI, Issue 27637, 19 April 1955, Page 12
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