PRICE TRIBUNAL

Greymouth Evening Star, 2 November 1939, Page 12

PRICE TRIBUNAL

EXTENSION OF POWERS

[PER PRESS ASSOCIATION.] ,

WELLINGTON, November 1

The announcement that arrangements are now being made to clothe the Price Investigation Tribunal with additional powers, which will enable it to fix particular prices, and to apply' the procedure of “averaging” prices where necessary, is made by the Minister for Supply (Mr. Sullivan.) in a statement replying to recent criticism of the tribunal. The Minister said that this extension of power would meet certain difficulties which traders had been experiencing concerning replacement. costs. “The additional powers will also enable the tribunal to allow a margin of profit on increased cost where reduced turnover or increased overhead justify such an allowance,“ Mr. Sullivan said. “Where, by reason of the large number of items dealt with, by a trader, it is impracticable to make individual application in respect of each item, the tribunal will accept any reasonable scheme submitted by 'a trader by which items can be grouped in one application. The tribunal has in fact adopted this procedure for some time. Is has also been accepting applications by certain trade organisations on behalf of all their members, thus obviating the. necessity for individual applications. Arrangements have now been made for this procedure to be extended to other organisations, particularly organisations of master grocers. “It has been stated that some traders have raised prices in defiance of the regulations. If this is so it must be clearly understood that such conduct, specially in this time of emergency, will not be tolerated, and offenders will be prosecuted without the slightest hesitation. The Government has every confidence in the tribunal to deal with the interests of all concerned in a just and equitable way. All must remember, however, that international markets have been greatly disturbed by the war, and our efforts to deal effectively with prices in New Zealand will depend upon the degree of cooperation and reasonableness exhibited by all those affected by the tribunal’s operations.”