$NZ float urged
PA Wellington The New Zealand Party leader, Mr Jones, yesterday urged the Government to float New Zealand’s exchange rate. Mr Jones said in a statement the Government’s 20 per cent devaluation was commendable and in line with economic logic. However, modern history showed the benefits of such action were eroded in about a year, leaving only an inflationary spiral to follow. “To negate this prospect the Government should now float our exchange rate to
achieve a permanent selfregulating balance between receipts and expenditure regardless of the amounts involved.
“This is in line with the New Zealand Party’s policy of a 25 per cent devaluation and a float between one and two months later when a stable climate has been established.” Mr Jones said the float would help a growth in trade, particularly with New Zealand’s major trading partners, Britain, Australia and the United States, all of which had similar systems.
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Press, 15 August 1984, Page 38
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153$NZ float urged Press, 15 August 1984, Page 38
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