Seeking Study Of Spiralling Costs

Press, Volume CVI, Issue 31115, 19 July 1966, Page 18

Seeking Study Of Spiralling Costs

The Canterbury Manufacturers* Association last evening decided to ask the New Zealand Manufacturers’ Federation to examine all aspects of the problem of spiralling costs within New Zealand and, if necessary, to seek die co-operation of other sections of the business community.

The president of the New Zealand Manufacturers’ Federation (Mr J. R. Maddren) told the association’s monthly council meeting that New Zealand was going to be faced with pressures to spiral up costs again.

“These are coining at a most inopportune time, not only for manufacturers, but for the economy of the country as a whole,” said Mr Maddren. Mr Maddren said he thought the association and federation should strive very strongly in the next months and years for additional planning and co-operation by both labour and management to avoid increases not tied to increases of production.

New Zealand was faced with a short-term economic problem, which could be ridden out by additional borrowing or additional production within the country, Mr Maddren said. Mr Maddren said that if New Zealand could get over the short-term hump, the

longer term prospect was fairly sound. Mr Maddren said that Mr ] Marshall and his departmental ' men had gained tremendous results in achieving the sign- I ing of the recent trade agree- i ments. 1

“The economic future (of New Zealand) is as much under control as ever it will be,” said Mr Maddren. “We must contain inflation in this country to get the maximum benefit of what we have.”