OVERSEAS PRICES

Press, Volume CVI, Issue 31223, 22 November 1966, Page 22

OVERSEAS PRICES

—I. M. Fraser (Social Credit)

It is with apprehension that the majority of New Zealanders approach this election. The fall in overseas prices for our exports, plus the ever-increasing cost structure, have placed New Zealand in a week position in the traditional markets.

Once again it is the old story of every country trying to export more than they import. Once again we see credit squeezes being employed to reduce internal demand: we see import controls being tightened, restrictions on travel and the prospect of unemployment. Just how long must we continue with this stop-go system of ours which can offer us a situation of ever-increasing costs which, if we try to correct, leads to unemployment. Surely it is time to put a stop to this recurring cycle, which is causing despair to our primary producers, uncertainty to our manufacturers and is steadily restricting the claim of the wage and salary earners on the goods and services that they themselves help to produce. So let us put a stop to this Government borrowing, let us halt this increasing taxation which is destroying incentive and the will to work and let us start putting some value back into our money.

Social Credit economic policy is geared to do just that. By steadily reducing Government debt we shall be able to lower taxation and thus halt this increasing price spiral. By making interestfree loans available to local bodies, rates can be reduced. But most of all we can hold and then progressively reduce our production costs. If you have had enough of increasing taxation and soaring prices now is the time for a change. Vote Social Credit this time. Add your vote to the swing.