Import controls
Sir,—Mr D. McKinnon (April 26) appears to suggest an immediate, Wd presumably considerable, de-
valuation. He overlooks negative effects of such a move. The results would be to force a sudden adjustment on the importing sector and put immediate upward pressure on prices and wages. The Government has been following a programme of gradual adjustment to provide New Zealand industry time to make changes to production and investment plans. Liberalisation of import licensing, C.E.R., industry studies and moves to reduce inflation and increase efficiency in the transport sector are evidence of the Government’s policies. The Government is in the final consultation phase of an agreement with the Manufacturers’ Federation and other parties to shift gradually from import licensing to the customs tariff as the primary means of protection for industry. I am confident that the Government’s approach of gradual change will result in a more healthy economy than the heavy-handed measure suggested by Mr McKinnon.—Yours, etc., K. R. ALLEN. Associate Minister of Trade and Industry. May 9, 1984.
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Press, 12 May 1984, Page 18
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170Import controls Press, 12 May 1984, Page 18
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