Methods to beat inflation put forward

Press, 27 October 1982, Page 21

Methods to beat inflation put forward

Reducing redundancy demands and amending youth rates arc two constructive methods New Zealand could adopt to try to squeeze inflation out of the system, according to the outgoing president of the Canterbury Chamber of Commerce, Mr J. M. T. Greene.

Addressing the chamber's 123rd annual meeting, Mr Greene said that the wage and price freeze was another method, and it remained to be seen whether this method would work.

“But to strike against it is sheer madness." Mr Greene said. “Workers lose wages, businesses lose cash, thus more workers will lose their jobs as businesses go bust.”

"Christchurch workers value their jobs, they will think before they strike.” Mr Greene said he was concerned that Christchurch was not on New Zealand’s economic map. with business people visiting New Zealand seldom travelling south of Wellington through ignorance and lack of direction by the authorities in Wellington. "This is why the logic of the chamber’s desire to spread the word on the strength of our local economy through our own international links must be made clear," Mr Greene said. Christchurch had do develop its own momentum and a strong local chamber of commerce had a role to play in this promotion, he said.

Improved communications with the outside world would be essential if goals for the region were to be reached.

These goals included the development of the region's agriculture, including horticulture, industry, tourism and transport facilities “while at the same . time maintaining our environmental goals." Mr Greene gaid. “Daily flights at sensible hours between Christchurch and Melbourne and Sydney would seem a must,” Mr Greene said.

Although the chamber’s membership campaign is only at its start. Mr Greene said that “Christchurch companies are voting with their feet."

The chamber was assisting local companies with market surveys such as a recent example on the likely effects of the amended payment periods for sales tax, Mr Greene said.

“By’effectively halving the payments period before penalties come into play, our survey showed that almost 50 per cent of companies would be significantly disadvantaged by the new legislation.” Mr Greene said.

"While larger companies will suffer, many smaller companies could be devastated because money that is already tight will inevitably get tighter as companies seek to borrow to pay this impost.” Mr Greene said. The results of the survey would be forwarded to tjie New Zealand Chambers of Commerce and to local politicians. he said. Mr N. S. Bidwell was elected the new president of the chamber, and Mr D. J. Stock the vice-president.