‘Work together’ call by Minister

Press, 22 August 1977, Page 1

‘Work together’ call by Minister

New Zealanders need to work together to solve the country’s economic problems and should try to overcome stridency in debate, said the Associate Minister of Finance (Mr Templeton) when opening the Industries Fair at Canterbury Court on Saturday evening.

“Let there be criticism, but make it fair,” he said. The Industries Fair epitomised co-operation and was a great indication of what Canterbury could do, he said.

Mr Templeton heard the Government criticised by the president of the Canterbury Manufacturers’ Association (Mr D. Sanders), who said that New Zealand was no longer a land of equal opportunity.

The South Island had fewer opportunities than the North Island and

freight rates stopped Canterbury competing in Wellington in spite of the fact that Auckland was twice as far away. The South also had problems getting cheap energy, particularly natural gas, he said.

Mr Sanders spoke of “great” problems with equity capital. Manufacturers could usually rely on cash from profits but at the moment they had to rely on borrowing.

“The Government is very interested in helping you. I want to make that very emphatic,” said Mr Templeton. A differential freight system was planned and the Government would soon start searching for natural gas in the South Island, he said. “The Government does not intend to make problems for New Zealand industry’.”

He realised there were problems with transport and taxes. “We don’t have all the answers but we can provide the guidelines and the assistance.” New Zealand was still suffering from inflation at home and protectionism abroad and it was urgent for New Zealanders to face reality. “There is no-one there to bail us out as there was when we were part of the British system,” he said. The situation was a challenge to manufacturers. “Development of the home market must follow on to the export market,” Mr Templeton said.

He described manufacturers as the engine of the economy and emphasised that not only must New Zealand live within its income, but it must also earn its living more efficiently.