GENERAL TARIFF REVIEW

Press, Volume XCIII, Issue 27988, 7 June 1956, Page 9

GENERAL TARIFF REVIEW

N.Z. MANUFACTURERS CRITICISED ATTITUDE TO SUPPLY OF OVERSEAS FUND (New Zealand Press Association) WELLINGTON, June 6. The submissions of the New Zealand Manufacturers’ Federation to the Board of Trade, during its general tariff review, were criticised today by the chairman of the board (Sir David complimented Mr A. R. Dellow, the general secretary of the federation. on presenting ‘‘a very comprehensive report”—74 typed foolscap pages—but said that he had not found any discussion in it of New Zealand s basic .economic position. The whole of the federation’s case was based on the idea that there would be sufficient overseas funds available for any industry which wanted to start up in this country, said Sir David Smith. New Zealand’s funds from the sale of primary produce might prove to be insufficient as the population expanded. Where, then, he asked, would the overseas funds come fF Mr Dellow replied that New Zealand manufacturing industries would have to export and break into existing markets overseas. The first requirements was not a low tariff, but a large market at “our back door.” New Zealand industries would never be able to develop an export drive if they were going to insist on high tariffs, said Sir David Smith. He considered it was fundamental that the secondary industries should investigate how New Zealand could maintain a high reserve of overseas funds. (Earlier reference page 11)