The economy

Press, 17 July 1980, Page 14

The economy

Sir, — It was interesting to watch the Prime Minister, Mr Muldoon, give his postBudget topdressing on television. His statement that the farmers are “all right” was astounding, for the need to farm our way out of pur present economic mess was ignored. Mr Muldoon preferred to look at farming on an individual' basis rather than an industry. An. experienced farmer has told me that with -a holding worth $700,000 as a going concern, a gross return of $95,000 annually gives a net profit before tax of about $30,000. Compare this with the salary of the president of the Federation of Labour, Mr Knox, who according to a trade union source receives $30,000 yearly after tax and without any outlay in capital. The farmer quoted could sell his property and at 15 per cent interest obtain a yield of $105,000 annually without any fear of seasonal fluctuations. It is not farming that is “all right”, but Mr Knox and the rest of the trade union executive. — Yours, etc., L. J. STEVENS. July 12, 1980.