ECONOMY MEASURES

Press, Volume CIII, Issue 30575, 19 October 1964, Page 12

ECONOMY MEASURES

Correction Of

Report

M.Z. Press Association) HAMILTON, Oct. 18. A Hamilton report of a speech by the Minister of Education (Mr Kinsella) to the divisional executive of the National Party, circulated through the Press Association on Monday, incorrectly attributed to him references to “a belt-tightening period for the average man” and also to measures “to set the economy back on an even level.” The Minister made the following points in his speech: (1.) A Government setting 1 out to control inflation had to be very careful not to set the economy off in the opposite direction. (2.) Everyone would accept a slight margin of inflation rather than the alternative of a recession with unemployment. (3.) The big problem facing the Government was to control the inflationary trend gently so as to bring the economy back to a steady level without causing disruption to any section of the community. (4) Many people were offering advice as to how to dampen down the inflation but with the proviso that it should not apply to their particular interest. (5.) The Government was giving the proper consideration to measures which would be taken to maintain stability in the economy but shock tactics would not be adopted.