WHAT IT WILL MEAN
COSTS WILL INCREASE
AND PUBLIC WILL PAY
' Mr. Edwin Saknond, president of the New Zealand Importers' Federation, interviewed on the increase in the exchange rate, said:— "The effect on. the importer will be to increase his costs. The importer will have to increase Ids selling prices by that increased cost, plus his usual proportion of profit on that cost.- The retailer,' in turn, will pass on the increased cost to the consumer. The effect of the increased exchange rate will be that the public will pay the increase for the benefit ■of financial institutions. . "Inevitably the Government will bo faced with increased debt service charges, estimated at round about £2,000,000 per annum, which amount no doubt they will endeavour to collect by an increase in the income-tax, which will como out of the pocket of the trading and professional members o* the community. "It will mean a decrease in the turnover of many businesses, with the result that staffs will have to bo reduced, thus creating further unemployment; and this will probably mean a further addition to the unemployment tax."
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https://paperspast.natlib.govt.nz/newspapers/EP19330120.2.105
Bibliographic details
Evening Post, Volume CXV, Issue 16, 20 January 1933, Page 8
Word Count
184WHAT IT WILL MEAN Evening Post, Volume CXV, Issue 16, 20 January 1933, Page 8
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