Finland extends price controls

Press, Volume CXV, Issue 33791, 13 March 1975, Page 17

Finland extends price controls

(N.Z.P. A.-Reuter—Copyright)

HELSINKI, March 12.

Finland today clamped controls on all retail prices and ordered a 15 per cent surcharge on all imports, in tough moves to combat inflation and restore the nation’s balance of payments.

The economic measures ( were approved at a special; late-night session of the; Centre-Left’ coalition Cab-' inet. Finland already has a sys-i tem of price controls — part: of an existing economic! mechanism also used to regu-1 late wage deals — but to-i day’s decision was an exten-i sion to total price control. The Cabinet also put for-! ward a bill fixing a compul-l sory 30 per cent deposit to I

ibe paid on all imported hgoods. The deposit would, :i however, be returned to the • 'importer after six months. | Ministers decided that un■jtil the bill — presented to Parliament after the extra- : ordinary Cabinet meeting — ■icame into force, Finland ■ would apply al5 per cent •isurcharge on imports. The drastic new’ price con■itrol system would remain in • force until February next 11 year, the Government said, i