LABOUR LEGISLATION

Dominion, Volume 30, Issue 172, 17 April 1937, Page 8

LABOUR LEGISLATION

Keen Interest Taken In England COMMENTS BY LONDON PROFESSOR By Telegraph—Press Association. Auckland, April 16. The keen interest taken iu England in the experimental legislation in New Zealand was the subject of comment by Professor N. Hall, head of the Department of Political Economy at the University of London (University College), who passed through Auckland on the Monterey on his way to Australia. Professor’ Hall has been engaged by the Bank of New South Wales to take charge of its economics and intelligence department for four months in the absence on leave of Professor Hutten. “The New Zealand Minister of Finance, Hon. W. Nash, has been very active in England and is very popular there/’ Professor Hall said. “I do not know whether he has made much progress with his practical proposals, but he has gone down very well.” There was a general disposition in England to wait and see about New Zealand policy under the Labour Government. The present Government had been very lucky and inherited a lot of London funds, which acted as a cushion. If world prices kept up the Government would have favourable conditions under which to continue its experiment. There had been no test so far. Discussing the general introduction of the. shorter working week and also the general increase in wages Professor Hall said if in the shorter hours people worked a good deal harder and costs did not rise proportionately the country might be able to manage the change but the condition he had mentioned was an essential one. “There is a terrific interest in New Zealand and an affection for the country” he continued. “'With regard to wages and hours we do not know. You can carry higher wages and shorter hours if you become more efficient at the same time. If however, it is simply a matter of restoring cuts, then the time is ripe, provided that you can get the prices for your exports. Butter is not bad, and it has been a great season for wool. If world prices 'were to slump, I think things would be very hard here, liecause you are so dependent on a couple of products.” Professor Hall also discussed the guaranteed price for butterfat, and said guaranteed prices lay in keeping the producers’ loyalty when prices were high. Human nature being what it was, it needed great loyalty to the scheme to prevent it being wrecked. It was in fact very difficult to carry a guaranteed price scheme through a period of rising prices. The scheme must collapse if producers did not adhere to it in a high-price period. Commenting on New Zealand’s exchange policy, Professor Hall said it would be very dangerous to push the exchange back to parity now.