Sympathy for N.Z.’s stand
PA Wellington The New Zealand Government’s response to Australia’s stand on cross-Tas-man investment has the sympathy of the deputy general manager of the A.M.P. Insurance Company, Ltd, Mr R. M. Craig. The Sydney-based executive said in an interview: “I can’t help feeling Mr Muldoon is right in saying let’s find out what the (investment) rules are.
“You’d have to admit he’s got a case. One can only hope the whole matter is resolved very soon,” Mr Craig said. Political parties in Australia wanted to be seen to be protecting their home base against foreign intru-
sion. “In this regard, similar attitudes can be seen rin New Zealand,” he said. Mr Craig said that any inevitable result of C.E.R. was more cross-Tasman investment. In the long term, C.E.R. would be of considerable advantage to both countries through linking into a single market. At the moment, he believed the New Zealand economy was performing better than the Australian market.
“We’re hoping that the wage pause will help the situation, but there is no prospect that inflation will get down to New Zealand levels,” Mr Craig said.
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Press, 11 July 1983, Page 9
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188Sympathy for N.Z.’s stand Press, 11 July 1983, Page 9
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