Price Increases
Sir, —Some time ago, when the Government decided that New Zealand would adopt decimal currency, it said that it would ensure that there was an equal balance between price increases and decreases, so that if prices for some goods went up the equivalent of a penny or so, the prices of others would come down. However, a few days ago the Government said that it would not stop any wholesaler or retailer from increasing the price of his goods in the change-over in July. Is this being fair to the people of New Zealand?—Yours, etc., SOPHOCLES. March 6, 1967. [The Minister of Finance (Mr Muldoon) denies the suggestion that no action would be taken in cases where there was proof that profiteering had occurred during the changeover to decimal currency. “The Government is, in fact, keeping a very close watch on price conversions and has already acted several times under the Control of Prices Act (1947),” he said. “In Australia any shopkeeper unfairly increasing his prices very quickly discovered his customers shopping elsewhere.”]
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Bibliographic details
Press, Volume CVI, Issue 31317, 13 March 1967, Page 12
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175Price Increases Press, Volume CVI, Issue 31317, 13 March 1967, Page 12
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