Die is cast, say manufacturers
PA Wellington The president of the Manufacturers’ Federation, Mr Keith Tyrrell, said yesterday that in more ways than one he was sorry the Minister of Finance, Mr Douglas, did seem able to contradict gloomy employment predictions for the new year. Manufacturers would be happy to learn that their assessment of compounded lay-offs in the new year was wide of the mark, said Mr Tyrrell. “I am disappointed, however, that Mr Douglas has slipped back to an era we thought was closed of name-
calling for people who have news he does not want to face up to. “I personally believe the die is now cast and that recent favourable movements of interest rates and the exchange rate are coming too late. “As proof I can point to divisions of companies that have already closed and heavy retrenchments in others.” Mr Tyrrell said manufacturers agreed with the principle of market forces and non-intervention, but the Government must manage the economy and no-one else had the powers.
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Press, 17 December 1985, Page 18
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170Die is cast, say manufacturers Press, 17 December 1985, Page 18
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