POSITION EXPLAINED

Evening Post, Volume CXXXVIII, Issue 135, 5 December 1944, Page 4

POSITION EXPLAINED

MEAT POOL AGREEMENT

O.C. WANGANUI, December 4. Except by mutual agreement between the Government and New Zealand Meat Producers' Board, the money in the meat pool accounts will not be touched. This was reported to a meeting of the Wellington Provincial Executive of the . New Zealand Farmers' Union at. Marton .today .by Mr. J. R. L. Hammond (Rata), who is a member of the board.

"The Government has agreed that this money belongs to the producers and nobody can touch it," Mr. Hammond added. "It cannot be taken out of the pool except by mutual agreement between the Government and the board. That is a bona fide agreement that the Prime Minister has put his signature to."

Mr. Hammond said that between 1939 and now production costs had increased by 25 per cent., representing a little more than a^penny a lb. When the increase granted for wool was deducted the actual net rise in production' costs stood at 19 per cent., or about one penny.

."There are certain subsidies to be paid back to the farmers, but the Government has agreed that these will be paid out of the Meat Industry Stabilisation Account, which is another fund," said Mr. Hammond. .

He explained that increases obtained from Britain since December 15, 1942, were paid into this account. The Meat Pool Account, however, remained intact to receive payments from Great Britain prior to December 15, 1942. At present the credit in the Meat Pool account was about- £4,000,----000. Payments into the fund amounted to about £1.500,000 per annum. "We should be in a good position in four or five years' time, when there will be £9,000,000 or £10,000,000 to our credit in that account," Mr. Hammond continued. "We had to concede a half-penny in the negotiations in order to get the Government to keep its hands off the Meat Pool Account." Replying to the secretary of the executive, Mr. K. M. Little (Feilding) Mr. Hammond said that the increases m price obtained from Britain were being paid in New Zealand currency. Mr. Mulholland had said that this money should be held in London. In the event of a slump the money overseas could not be used by the Government.

ANSWERS TO CORRESPONDENTS. 1 •Hallway Waterloo."—Mr. Atmore advocated completion of the lino between Nelson and tho South Island Main Trunk line; but we cannot trace reference to another line. A. K. Jonce.—Whether service is voluntary or conscripted does not affect the position, no lone., as the .service is fitfeu. The R.S.A statement covers the other point. E. Cailan.—An answer could not be given without all facts. Best course is to submit complete details to the Registrar of the Supreme Court,