Motor Trade

Press, Issue 32333, 26 June 1970, Page 1

Motor Trade

The president of the Retail Motor Trade Association (Mr E. B. Gee) welcomed the announcement that import licences for an additional 5000 built-up motor-cars were to be issued. An additional 5000 cars equalled an extra full month’s supply of new vehicles.

The president of the New Zealand Automobile Association (Mr J. B. Horrocks) said the licences for another 5000 new cars were welcome. “This brings a buyers’ market one [step nearer. However, the (New Zealand motorist pays (dearly for his car and these 15000 cars alone will add at least $3,250,000 by way of (sales tax, registration and (licensing fees.” Mr E. C. Tait, chairman of [the Bankers’ Association) said

ithe Budget is flexible. It includes selective use of fiscal and monetary measures to (dampen inflation, promote savings and sustain national growth The payroll tax may cause difficulties for employers, but the reasons for it and the restructuring of personal income tax are well made. In addition, the further incentives to farmers should help to maintain farm investment and production.

The president of the Retailers’ Federation (Mr J. E. Thompson): I believe retailers will be relieved that the Budget contained no added sales taxes on goods which would, of course, have increased prices. I think it was a Budget of moderate restraints and expressed a good deal of confidence in the country’s immediate future.