IMPORT REGULATIONS

Evening Star, Issue 23353, 24 August 1939, Page 20

IMPORT REGULATIONS

PRIORITY OF CLAIMS WAR MATERIAL FIRST OH LIST Since tho imposition by the Now Zealand Government of exchange control regulations and a policy of import restriction, considerable speculation lias followed, among other things, on the scale of preferential treatment accorded various industries. Although some inkling of that scale has been given by members of the Government from time to time, no detailed information ha? been made public. It is understood, however, that the import requirements list has been divided into four sections. Priority at present is being given the importation of arms, ammunitions, and explosives for Government use. Second come tho primary producers, whose needs Cabinet Ministers have promised will be nurtured. Third on the list are manufacturers, who require raw materials with which to continue operations, while general importers take fourth place. Just how far that list is being observed at present is a matter for speculation. First half-year imports reveal that arms, ammunitions, and explosives received preferential treatment so far as increases were concerned, total imports at £411,005 being £252 947 above the corresponding period of 1938, while the increase was £61,000 above tho next best increase. No accurate gauge can he made of the other items imported between January and June of this year, because of the carry-over of 1933 import orders. Within the last two months the very tirrht sterling position has forced the director of the Reserve Bank to review vorv carefully the calls on London funds, and as business men arc aware applications have been drastically reduced.