“Useful” analysis of economy

Press, Volume CXV, Issue 33941, 6 September 1975, Page 16

“Useful” analysis of economy

(From Our Own Reporter) j WELLINGTON. Sept. 5. The Monetary and Economic Council report, “Perspectives on the New Zealand Economy,” provided a useful and detailed analysis of the economy’s performance in the last five years said the Acting Minister of Finance (Mr Douglas) today. “This latest report complements the recent O.E.C.D. review of the New Zealand economy, with both reports making a valuable contribution to the understanding of our economy, as well as pointing out some of the problems ahead and the way in which they may be overcome,” Mr Douglas said. “While at this stage I do not think it is appropriate for me to comment in detail on the specific proposals of the council, the Government will give careful consideration to the points and recommendations made in the report,” he said. “As a general observation, it is encouraging that in its conclusion, the council indicates that Our economic prospects for the rest of the decade are good, and that the Government’s incomes policy offers reasonable hope for progressive reduction in cost inflation,” Mr Douglas said. The- council’s report made it clear that as a necessary foundation for the future, New Zealand as a whole must accept the restraints imposed on it by the drastic decline in the terms of trade, he said.