N.Z. EXCHANGE CRISIS

Press, Volume XCVII, Issue 28539, 19 March 1958, Page 14

N.Z. EXCHANGE CRISIS

Retailets Reply To Mr Boord (Netv Zealand Preet Association) WELLINGTON, March 18. J Government taljt of Crisis till Stable prices tot primary products were attained Meant an indefinite strait-jacket Of direct Controls on business, said Mr A. L. George, chairman of the import committee of the New Zealand Retailers’ Federation, today, commenting on the statement by the Minister of Customs (Mr Boord) yesterday.

“The Minister,” he said, “is overplaying his hand when he asserts the crisis developed at the beginning of last year and will continue till overseas prices show some degree of stability. "The crisis, in fact, arose at the end ot last year, and was met by the Government’s action in stopping depletion Of overseas reserves in January. Some restrictions will be necessary for some time, but it is negative to consider the Crisis is indefinite.” Mr George suggested that the Minister had misunderstood the federation’s request for an appeal authority. The federation did not believe that the'departments should be the appeal authorities of.their own decisions, and he suggested that the Board of Trade could act in this capacity. , . ■ “The ma A thing is that importers want to have an opportunity when they feel aggrieved to present their cases to a semrindependent appeal authority,” Mr George said.

“We agree that the Government should encourage within reason the maximum production from local industries. What we are strenuously opposing is totally prohibiting all competing Imports from a wide range of goods.”