Call for look at companies
(N Z. Press Association)
WELLINGTON, May 13.
Companies in New Zealand controlled by the giant American multi - national group, I.T. and T. (International Telegraph and Telephones Corporation) should be investigated, the Labour Party conference decided today.
It rejected a move for the New Zealand subsidiaries, of which there are believed to be four, to be nationalised. Delegates spoke of the danger to New Zealand economic well-being caused by multi-national comnanies, but the Minister of Trade and Industry (Mr Freer) warned that conference decisions should be guided by a sense of responsibility and not sentiment.
“As long as the role of the multi-national is to contribute,” Mr Freer said, “and not exploit, then we should act responsibly to them and thev to us.” The New Zealand subsidiary of LT. and T. is Standard Telephone and Cables (N.Z.L Ltd. Wellington. Standard Telephones trades as a telecommunications eneineer and electrical wholesale suonlier in Wellington and Auckland, according to the “New Zealand Business Who’s Who.”
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Bibliographic details
Press, Issue 33842, 14 May 1975, Page 1
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166Call for look at companies Press, Issue 33842, 14 May 1975, Page 1
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