Dollar value warning
PA Wellington The Government should take immediate, action to bring down the value of the dollar, said the Opposition spokesman on trade and industry, Mr Jim Bolger, yesterday. It was only a matter of
days before the Government would have to act to stop a large proportion of New Zealand’s manufactured exports from being priced off world markets, Mr Bolger said. “High interest rates are the major reason why exEorters are being crushed y internal costs and an overvalued New Zealand dollar,” he said.
“To date, Ministers appear to be at a loss to know what to do and in the meantime the economy is tumbling out of control with New Zealand facing a loss of between ?1.5 and $2 billion in export earnings on an annual basis.” Mr Bolger said that unless the Government took immediate steps, thousands of jobs would be lost.
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Press, 5 October 1985, Page 1
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147Dollar value warning Press, 5 October 1985, Page 1
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