Union deal ‘understood’
W.Z. Press Association/ WELLINGTON, June 17. The Government had not “bungled” the Union Steam Ship Company negotiations, the Minister of Transport (Mr Gordon) said in a statement tonight. He was commenting on an earlier statement by Mr W. W. Freer, the Labour Party spokesman on industries and commerce. Having decided that the 50 per cent protected NeW Zealand ownership was the best in the national interest, the Government had actively set out to encourage capital investment in a proposal that ensured New Zealand a full half-share instead of the present total control from London. He said that there bad been no indication given to the Government that there were only seven New Zealand companies interested in participating in the New Zealand holding company. There had been no procrastination by the Government about finance, he said. Neither had it shown indifference; it already had a memorandum of understanding from T.N.T. indicating its intentions regarding coastal shipping services.
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Press, Volume CXI, Issue 32637, 19 June 1971, Page 23
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159Union deal ‘understood’ Press, Volume CXI, Issue 32637, 19 June 1971, Page 23
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