NEW ZEALAND’S ECONOMY
Tendency To “Slow Down” Seen (New Zealand Press Association) WELLINGTON. September 18. New Zealand’s economy is slowing down and needs to be revitalised, said the chairman of Wright Stephenson and Company, Ltd. (Mr C. U. Plimmer), in his annual review. “The replacement of some of the artificial features of our economy by some that are more imaginative, with emphasis on the laws of supply and demand, would be helpful,” he said. “There is need for more spending power in the hands of the public in order to inject more ‘red blood’ into the economy. “Indeed, I think this is so vital that there will be a relaxation of credit controls which, together with a likely wage increase and improved overseas earnings, will give to the economy the boost it requires.
“If such proves to be the case, then there could be ahead of us a period of real prosperity, but it may take time to remove from the minds of many the thoughts of the pessimisms and repressions which have been promulgated this last year or two. “Unlike the present economies of so many other countries, ours is slowing down and needs to be revitalised.’’
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Press, Volume XCVIII, Issue 29004, 19 September 1959, Page 4
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198NEW ZEALAND’S ECONOMY Press, Volume XCVIII, Issue 29004, 19 September 1959, Page 4
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