Fight, says Minister

Press, 9 August 1980, Page 6

Fight, says Minister

South Islanders must stand up and fight for new industries, especially those related to the development of our coal fields, said the Deputy Minister of Finance (Mr Tempi et on) in Christchurch last evening. “The use of South Island power is essential to the development of New Zealand," Mr Templeton told the 101st annual meeting of the Canterbury Manufacturers’ Association.

“You must get behind this development, because you will prosper from it,” he said.

More than three-fifths of the $5 billion of major investments that- the Government had already invested in the energy industry’s technology would fall in the South Island, he said.

“You will be well placed to take advantage of manufacturing for .those developments,” Mr Templeton said.

“Modern technology, using South Island coals, could provide New Zealand with diesel and jet fuels. The Government knows there are substantial risks associated with these projects, but they are vital in saving New Zealand critical import costs, such as with petrol and oil, and to boost our exports and balance of payments.” If New Zealanders wanted a more secure and prosperous country by the end of the decade they had to adapt to adversity and change, said Mr Templeton.

The country’s future de l ! pended on combining strategies of restraint, restructuring, and development as never before. “Restraint is vital if we are to earn our way in the world and if we are to provide more jobs for New Zealanders,” said Mr Templeton. “Restructuring is about the reform and modernisation of the New Zealand economy. It. involves reorganisation, or

rather assisting reorganisation, that in large measure is already under way. ” Mr Templeton said restructuring was the only basis on which growth could be achieved. If New Zealand wanted to compete in other markets it had to produce goods more efficiently. This meant developing new industries and finding new markets.