Investment defended
The idea that the only New Zealanders to benefit from foreign investment in industry are the shareholders, or those with other vested interests, ignores several important facts, says the public affaire manager of Comalco (Mr D. L. Bennett).
Mr P. Lusk, a spokesman for the Campaign Against Foreign Control in New Zealand, made the contention some time ago, and said that the presence of the smelter at Bluff should serve as a lesson to the country. “The assertion ignores the fact that 850 New Zealanders are now working at New Zealand Aluminium Smelters, Ltd, in Invercargill, and that another 150 wilj be needed by the end of next year,” said Mr Bennett in a statement.
“It ignores the benefit to Invercargill — and therefore to Southland — of a present monthly wage bill of about $400,000, as well as monthly supplies bill of $300,000.
About 2780 jobs throughout New Zealand were attributable to the smelter, and last year, New Zealand .saved itself sBm of overseas funds by having a domestic source of aluminium, he said.
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Bibliographic details
Press, Volume CXIV, Issue 33655, 3 October 1974, Page 18
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175Investment defended Press, Volume CXIV, Issue 33655, 3 October 1974, Page 18
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