Overseas travel expenditure
Sir, —M. Sadler and P. Neary (February 9) miss the point when suggesting government controls . on .travelling New Zealanders, to handle our balance of ■.payment . ■ The main cause is heavy government restrictions on : the importexport market, government control of exchange rates and government; deficit spending. Working towards a free import-export market, a free money market and a slashing of government spending and therefore taxes would help solve the. problem. A flood of cheap Japanese- cars can only be paid for with a flood of cheap Japanese' yen, which of course must have limits to its cheapness in a free money market. A' shortage of Japanese yen -would lead to a higher price of yen here. This in turn would encourage businessmen to export something to Japan to get yen to sell here.-Once again, a freer market is a better solution , than further government interference. — Yours, etc PETER JOHNSON. February 9, 1981.
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Press, 10 February 1981, Page 16
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154Overseas travel expenditure Press, 10 February 1981, Page 16
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