‘Some hurt’ by Govt moves, says Minister
PA Wellington Some people may have been disadvantaged and hurt by Government moves to lower inflation and interest rates, the Minister of Tourism, Mr Talbot, said yesterday. He also said “most of us” were philosophically opposed to the Government’s regulation of the economy. In a speech prepared for delivery to Mid-Canterbury Federated Farmers at Ashburton, he said:
“Yes, maybe some people are being disadvantaged and hurt as we break the inflationary and interest rate spiral. But the advantages far outweigh any short-term problems.
“It is correct that these considerable achievements have only been made possible through the promulgation of regulations which most of us are philosophically opposed to,” Mr Talbot said.
That was the only practical way to break the spiral after the failure of other countries to return their economies to manageable levels had been noted. The Government “would hope to remove these regulations as soon as possible,” he said. Mr Talbot said there was another “side of the ledger” wherd a wide range of deregulation was taking place in many industries.
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Press, 25 May 1984, Page 3
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180‘Some hurt’ by Govt moves, says Minister Press, 25 May 1984, Page 3
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