WAGE ORDER SYSTEM
N.Z. ‘Well Served’
(N.Z. Press Association) WELLINGTON, Nov. 18. The key to avoidance of price increases from too much purchasing power was to keep the growth of spending in line with the growth of resources, the Secretary to the Treasury 'r E. L. Greensmith) said tonight. “If this were done, it is doubtful whether there would be much point in any special incomes policy apart from that which we now have. The Court of Arbitration and the general wage order system have served this country pretty well and have in fact operated a form of incomes policy,” he said. No doubt there were improvements that could be made, but basically the New Zealand system appeared to be at least as good as the wage-fixing mechanisms of other countries. “If we could stabilise farm incomes more than we have done and keep the domestic economy in closer balance, then the general wage order system, possibly with some modifications, could provide as affective an income policy as any country has so far achieved,” he said.
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Bibliographic details
Press, Volume CIII, Issue 30602, 19 November 1964, Page 12
Word Count
176WAGE ORDER SYSTEM Press, Volume CIII, Issue 30602, 19 November 1964, Page 12
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