ASSURANCE BY PRIME MINISTER

Dominion, Volume 32, Issue 256, 27 July 1939, Page 11

ASSURANCE BY PRIME MINISTER

Pledges To Manufacturers To Be Kept MR. NASH’S NEGOTIATIONS IN LONDON An assurance that nothing is going to make him break the pledges he has given to the New Zealand manufacturers was given by the Prime Minister, Mr. Savage, when commenting in an interview on a statement by the general secretary of the New Zealand Manufacturers’ Federation, Mr. M. K. O’Shea. Mr. O’Shea’s statement was made in reference to the arrangements entered into between the New Zealand Government and the United Kigdom Government concerning credits for imports from Britain. “Mr. O’Shea is putting out previous statements that have been made as if I were likely to break my pledges,” said Mr. Savage, who added that Mr. O’Shea would not be likely to be very successful if he were qualifying for the diplomatic service. “I will not break my pledges to the existing manufacturers or to anyone else,” the Prime Minister continued. “I agree with Mr. Nash that it is possible to expand our trade both internally and externally. If we expand our primary production in proper relationship to our secondary production, what agreement can we possibly break? Of course if Britain were not taking our produce it would alter the position. “But there is nothing in the negotiations between the British Government and Mr. Nash that should cause any New Zealand manufacturer serious concern. The New Zealand manufacturers can bank on this: Our obligations to them will be carried out. Everything that has been done in Britain has been done with that in mind.” CREDIT FACILITIES Statement To Commons (British Official Wireless.) RUGBY, July 25. The Secretary for tlie Dominions, Sir Thomas Inskip, in the House of Commons announced the agreement on the financial requirements of New Zea land in the United Kigdom, which had been under discussion with the New Zealand Minister of Finance, Mr. Nash, as well as the trade position, the agreement on which was published as a White Paper last Thursday. Sir Thomas Inskip said that, as regards the former subject, the British Government agreed in principle that the facilities of the export credits guarantee department will be made available to assist in financing United Kingdom imports into New Zealand. Under this arrangement credits up to £5,000,000 will be made available on approved conditions for purchases by the New Zealand Government for defence and other purposes. Short-term export credit facilities up to £4,000,0000 will also be made available under suitable conditions to cover exports from the United Kingdom to importers in New Zealand, other than the New Zealand Government.