N.Z. “Took Wise Line” At E.E.C. Discussions

Press, Volume C, Issue 29672, 16 November 1961, Page 17

N.Z. “Took Wise Line” At E.E.C. Discussions

At the time, and in retrospect, he was certain that the New Zealand delegation to the Commonwealth Finance Ministers’ conference at Accra had taken a wise line in not supporting the strong criticism levelled by Canada and Australia at Britain for taking steps to join the European Economic Community, said the Minister of Finance (Mr Lake), speaking at a Christchurch businessmen’s luncheon yesterday, “The Canadian Finance Minister (Mr D. M. Fleming) used quite strong language. The British Chancellor of the Exchequer (Mr Selwyn Lloyd) and the then President of the Board of Trade (Mr Reginald Maudling) were both embarrassed. They were embarrassed, to a lesser extent, by the Australian Federal Treasurer (Mr Holt). “New Zealand did not take any part in supporting the strong criticism of the British. It is a policy that will pay off in my opinion. It would have been quite wrong for us to set out to embarrass the British for a decision they had made after long and careful consideration. “We adopted the policy we

arrived at after talks with Mr Duncan Sandys in this country. Britain knows of the interests of New Zealand and other Commonwealth countries, and I think the interests of New Zealand and the other countries will be protected. “In my thinking, the British are going to protect our interests. We will make it plain during the course of negotiations between Britain and the European Economic Community when we think our interests are being affected, and wiH be quite vociferous in pointing this out. "But the British had made the decision to join the EEC. and in my opinion we took the wise line at Accra,” Mr Lake said. Decimal Coinage Mr Lake said that while overseas he had discussions on the wisdom of the United Kingdom, Australia and New Zealand introducing decimal coinage at the same time The practical and economic advantages of such an arrangement were obvious.

“But I must add that no decision was made on a date for the introduction of decimal coinage. A change is not likely to be made by the New Zealand Government until the overseas funds position has improved.”