Economy Report ‘Omits Policies’

Press, Volume CIII, Issue 30406, 3 April 1964, Page 8

Economy Report ‘Omits Policies’

(New Zealand Preu Association) WELLINGTON, April 2. “The Prime Minister’s state of the nation report is remarkable not so much for what it says as for what it omits to say,” said the Leader of the Opposition (Mr Nordmeyer) in a statement issued today.

“After acknowledging that New Zealand has enjoyed record export income over the past year, Mr Holyoake admits imports have been so high that our overseas funds are not rising,” said Mr Nordmeyer. “But there is not a word about the course the Government intends to take to deal with the problem of overimporting and of unsatisfactory overseas balances. “He appears also to have completely overlooked the mounting debt and sharp increase in interest charges. What is he going to do about them?

“Mr Holyoake emphasises the need to maintain stable prices and costs. When he had a chance to maintain the price of sugar and related goods at a stable level by instituting a stabilisation subsidy, he refused to act. “Does his statement mean that wages are not to be increased in conformation with

the recent steep rise in living costs? Long-Term Plan “But surely the most interesting feature of Mr Holyoake’s statement is the revelation that New Zealand is to have a 10-year plan. “When Labour proposed a long-term plan at the last election, it was condemned as socialism. “If Mr Holyoake has at last been converted to socialist planning, it will be a clear indication that he recognises the failure of unplanned private enterprise to cope with the problems of the day. This is very interesting,” said Mr Nordmeyer.