May look to Govt

Press, Volume CXI, Issue 32708, 10 September 1971, Page 14

May look to Govt

A hint that in the future woolgrowers may look to the Government for supplementation of their returns, should this be necessary, was given by Mr L. P. Chapman, a member 1 of the Wool Board, when 1 he answered questions at 1 a meeting in Christchurch 1 last week about the 1 board's new plans for 1 wool marketing. Mr Chapman had said that it was intended to i merge the Wool Commis- ; sion with the proposed , wool-marketing corpora- ; tion as soon as possible t after its establishment 1 It was now becoming - very obvious, said Mr r Chapman, that it was un- , likely wool prices would j wxxfVKt much from the ; low levels lately reached, . and if in the future ■ growers returns were to s be supplemented, then it r was felt that these funds - should come from the i Government rather than 1 from the growers’ funds, t held by the commission, s as was the case at pres sent. The growers’ funds in f the commission, now put - at about s4Bm, of which r s2lm is in wool, are exs pected to be the source of the growers’ contribu- . tion to the financing of ! the corporation, which is * likely to require funds of e about double that order—- ' close to sloom. . Mr Chapman said that ‘ the Government was the ’ only place where the bale ance of these funds could i_ come from. t