WOOL RESEARCH LEVY MAY LOSE SUBSIDY
(From Our Own Reporter) WELLINGTON, March 16. The Wool Commission may have to suspend its subsidy of the woolgrowers’ promotion and research levy in the coming season, the chairman of
the Wool Board (Mr J. Acland) told the electoral committee today. An amendment to the Wool Commission Act would be sought to make this possible for one year.
Woolgrowers pay ,84d per lb on all wool produced.
The commission from interest earnings on its reserves contributes .54d per lb. Mr Acland said the heavy buying by the commission had reduced its ability to subsidise the levy after the present season. The Wool Board had reserves of £2 million which would enable it to fulfil its commitment to
the International Wool Secretariat and its own operations in New Zealand until June, 1969, without the subsidy payment and without raising the growers’ levy.
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Bibliographic details
Press, Volume CVI, Issue 31321, 17 March 1967, Page 3
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147WOOL RESEARCH LEVY MAY LOSE SUBSIDY Press, Volume CVI, Issue 31321, 17 March 1967, Page 3
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