“DECLINE SERIOUS”
(N.Z. Press Association) WELLINGTON, Dec. 12. The decline in New Zealand’s terms of trade was described by the Minister of Finance (Mr Muldoon) as very serious. Replying to Parliamentary questions about New Zealand’s average national income in relation to that of other countries, Mr Muldoon said there had been an adverse movement in the terms of trade in that there had been a decline in the value of wool and lamb and an increase in the value of industrial imports. It was not true, however, tat there had been a decline in that rate of growth in real terms over the last year, he said in reply to a supplementary question from Mr M. A. Connelly (Lab., Wigram).
The rates for the last two years had been 4.7 per cent and 4 per cent. This was "very good indeed,” Mr Muldoon said.
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Bibliographic details
Press, Volume CXI, Issue 32788, 13 December 1971, Page 21
Word Count
144“DECLINE SERIOUS” Press, Volume CXI, Issue 32788, 13 December 1971, Page 21
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