Dollar float criticised as mistake
PA Wellington The weakening of the United States dollar and the renewed rise of the Kiwi dollar would attract overseas money again and produce another surge in interest rates, said the Democratic Party leader, Mr Bruce Beetham, yesterday. This would result in farmers and exporters again being “squeezed” between falling sales and oppressive costs, he said. That could lead only to lay-offs, forced sales and bankruptcies this year, he said. “It is becoming painfully obvious that a free-floating dollar is of much more advantage to foreigners than it will ever be to a vulnerable and largely dependent economy like New Zealand’s,” Mr Beetham said.
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Press, 9 January 1986, Page 5
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109Dollar float criticised as mistake Press, 9 January 1986, Page 5
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