TOURIST POUND PROPOSED

Press, Volume XCVI, Issue 28371, 2 September 1957, Page 7

TOURIST POUND PROPOSED

Attractions For Australians ’ (New Zealand Press Association) AUCKLAND. Sept. 1. A New Zealander who became a millionaire when his company struck oil in West Australia' nassed through Auckland in the' Mariposa on Saturday. He is Mr W. G. Walkley.' now of Sydney i managing-director of AmpoL Petroleum. .Ltd.,, which has assets of about £22 tnillion and nearly 2000 New Zealand shareholders. Mr Walkley, who was accompanied by his wife, was Returning from business conferences in America and Europe. “New Zealand has a reservoir of 10 million potential tourists in Australia,” he said, “but because of the difference in the exchange rate, many Australians who would like to visit New Zealand are going to Surfers’ Paradise instead. “Why not do what some European . countries do, and create New Zealand tourist pounds at parity with the pound Australian?” he asked. “If you did this, you would get more tourist income and a bigger gross return from the money you spend publicising New Zealand tourist attractions in Australia. “There may be arguments against this tourist pound suggestion, but why not give it a trial for a year?” Mr Walkley, who is 60, was born at Otaki and served in the New Zealand Expeditionary Force from 1916 to 1918. He practised as a chartered accountant in Hawera from 1922 to 1935. In 1936-37, he organised the Australian Motorists’ Petrol Company, Ltd., and he has been managingdirector of Ampol Petroleum, Ltd., since 1939.