Trade intervention concerns Mair

Press, 17 November 1982, Page 45

Trade intervention concerns Mair

Mair and Company, Ltd, was concerned about the intervention of the Wool Board and Meat Board in the marketing arena; said the chairman, Mr P. -F. Polsori, at the annual meeting yesterday. Although any intervention was influenced by the best intentions for New Zealand's interests, it was important that market forces had a reasonably free play. It was those actively involved in the market place that could fully comprehend it, he said. Reference was made in the company's annual report to build-up of short, discoloured carpet wool stocks, and its removal from the market at unrealistic prices. This was likely to cause eventual embarrassment to the Wool Board, if it was added to

again this year, Mr Polson said. ■ “We believe there could be some merit if both the wool and meat boards had permanent industry representation from the market place.” Mair was now more than four months into its new financial year, and the profit figures for the first three months compared favourably with the previous corresponding period, he said. Indications were that the report for the six months to December 31, would be satisfactory. . “But for the second half of the year the horizons are somewhat cloudy, and I am at this stage a little more cautious in predictions.” It was regrettable that because of circumstances beyond the company’s control, shareholders were not able

to receive a greater participation by way of dividends in a record profit year. Mr Polson said. It was debatable whether price and income freezes imposed by Governments ever succeeded in their objectives. World-wide, the record was not good, but inflation in New Zealand had gone beyond reasonable limits. A freeze to obtain a period of economic stability, was one of the alternatives for government to tackle inflation. "Its success or otherwise is dependent on its acceptance by a majority of New Zealanders, but certainly the disruptions and inequities it causes short term are endless. and I, for one, don t believe that too much government is good for New Zealand,” Mr Polson said.