Reassurance Sought On Import Policy

Press, Volume CVI, Issue 31344, 14 April 1967, Page 3

Reassurance Sought On Import Policy

(N.Z. Press Association)* WELLINGTON, April 13. A deputation of manufacturers sought an assurance from the Government today that “all efficient New Zealand industries” would continue to receive effective protection by import regulation combined with adequate tariffs. The deputation, led by Mr H. W. Reed, president of the Manufacturers’ Federation, asked the Prime Minister

(Mr Holyoake) to reaffirm the Government’s election policy on industry. “We realise that the country as a whole has serious economic problems. But we believe in the future of New Zealand—we have invested in it, and we have confidence ■that we can plan for and build a prosperous future,” said Mr Reed. “The federation strongly supports the adoption of long-term indicative planning as one step which will help to smooth some of the irregularities which have upset the economy from time to time. We want to see this work extended to include all sectors of the economy, including the manufacturing industries “All those who use overseas exchange should bear some part of the burden of correcting the present situation," said Mr Reed. “Some of our members feel it is inequitable to impose import licence cuts on some manufacturers while other items remain exempt from licensing. “Payments for invisible items are a large and increasing charge against overseas funds. It is largely because of the increase in these transactions (so far unaffected by most of the Government measures) that the balance of exchange left to pay for imports has not been able to increase in proportion to the increase in population and the demand for goods.

“There is a long way to go in repaying overseas loans, and in building overseas reserves to a more satisfactory figure,” said Mr Reed.