'No Profit From Decimal Change’

Press, Volume CVI, Issue 31218, 16 November 1966, Page 23

' No Profit From Decimal Change’

“It has been insinuated that some will take advantage of the change to decimal currency to rope in a little more cash. That will not I e the case with us,’’ said the chairman (Mr \V. A. Newton), at a meeting of the Central Canterbury Electric Power Board yesterday.

“We will convert to decimal equivalents to bring in almost exactly the same, within a few pounds, that we get now,” he said.

The secretary-manager (Mr V. G. Mason) said that a committee had been set up to plan for the change on July 7, The board would convert all its internal figures to decimal on April 1. If the board began billing at that date, it would have to show the sterling figures as well, and this would mean much extra work for little advantage. Meter reading would be accelerated in June so that all accounts billed in sterling would have fallen due before July 7. As from July 1, all accounts would be billed in decimals, but they would not be posted before July 7. Show-room goods would be priced only in dollars and cents on and after July 7, as it had been found in Australia that most confusion arose through trying to deal in two currencies.

Mr Mason said that recommendations would be made in December for adjustments in the rates to allow for decimal currency.

Wage Order—lt was agreed to pay the 2 J per cent general wage order increase to all staff on award wages, and to review pay to other staff after April 1. An amendment, to pay the increase to all staff, was lost.

No Grant—An appeal from

the Christchurch Y.M.C.A. for a donation was "received", and amendment that the board make its usual grant of £3 3s being defeated.