DROP IN N.Z.’S INCOME
Overseas Loan May Be Sought (New Zealand Press Association) WELLINGTON, April 4. If further measures, in addition to the import control policy introduced last January, had to be taken in the interests of New Zealand’s economy, import licenses already issued would not be curtailed, the Prime Minister (Mr Nash), said yesterday. Mr Nash said New Zealand was dependent for the purchase of imports she required on receipts from the sale of her products marketed overseas. “We did something exceHent when we decided in 18 days what the economic policy for the year would be /m the basis of our estimated income at that time,” said Mr Nash. “But now we find that this income will be less than we expected. ’ “It is quite possible a lesser income from- overseas will affect what we are doing today. We cannot spend more than we have got. I have no doubt we will be able to meet all the commitments entered into, but there wiH be all sorts of difficulties in the 'way.’ Mr Nash said the alternatives before the Government were to increase export income or to borrow overseas.
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Press, Volume XCVII, Issue 28553, 5 April 1958, Page 14
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191DROP IN N.Z.’S INCOME Press, Volume XCVII, Issue 28553, 5 April 1958, Page 14
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