H.-P. CREDIT LAWS
Change Sought By Retailers (N.Z Press Association) QUEENSTOWN, Mar. 7. Urgent representations will be made to the Minister of Finance for immediate relief in the hire-purchase regulations of goods traded by members, the New Zealand Retailers’ Federation conference decided today. The federation will seek the extension of the maximum period of credit to at least two years, instead of the present 18 months* term which is causing “an increasingly harsh effect on turnover and profits of both retailers and manufacturers and may well lead to unemployment.” and also a reduction of the deposit of 5 per cent. Delegates said that sales of home appliances, television sets and the like had suffered set-backs since the introduction of the short term Dealers were caught with stocks and were trying hard' to quit them. The regulations curbed the sales of major appliances and reduced the amount of money in circulation for other goods because weekly payments were higher.
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Press, Volume CI, Issue 29766, 8 March 1962, Page 16
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158H.-P. CREDIT LAWS Press, Volume CI, Issue 29766, 8 March 1962, Page 16
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