‘Too much whingeing’

Press, 6 December 1985, Page 2

‘Too much whingeing’

PA Wellington The former Associate Minister of Finance in the National Government, Mr Derek Quigley, said yesterday that there was “too much whingeing” going on about the state, of. the economy. He said on radio’s “Morning Report” that business people would be against any moves to reduce the value of the dollar as suggested by National’s spokesman on agriculture, Mr lan McLean.

Mr McLean said on Wednesday that the dollar was valued too highly and might have to fall from its present value of US56c to about US4Oc if export industries were to recover.

Mr Quigley, now a business consultant, said that businessmen he had been in touch with in the last 24 hours would be against the Government’s taking such a course.

“It seems to me that you don’t change something that affects everyone because some particular groups in the community may be in trouble at a particular time — and the suggestion is that the strong value of the New Zealand dollar is hurting the farming community and hurting some exporters. “But, of course, the high dollar is also affecting the price of imports and that has a very positive effect on a reduced inflation rate in New Zealand.”