NO ADJUSTMENT IN N.Z. BULK SALE CONTRACTS

Gisborne Herald, Volume LXXV, Issue 22732, 2 September 1948, Page 6

NO ADJUSTMENT IN N.Z. BULK SALE CONTRACTS

(P.A.) WELLINGTON, Sept. 2. Ministerial replies to questions were circulated in ,the House of Representatives yesterday afternoon.

The Minister of Finance, Mr. W. Nash answering Mr. K. J. Holyoake (Oppos. Pahiatua), said prices in the contracts for the bulk sale of New Zealand foodstuffs were and always had been fixed in sterling and there was no provision in the contracts for any adjustment of sterling prices consequent, upon the appreciation of New Zealand currency, Mr. Nash, answering Mr. T. P. Shand (Oppos. Marlborough), said an arrangement had been made for the sale of wool and other products to Japan and licenses for a limited amount had been issued for the importation from Japan of textile piece-goods of a class required to meet essential needs. Mr. Shand had asked if licenses had recently been issued for the importation of Japanese piece goods. Mr. Nash answering a question by Mr. G. If. Mackley tOppos. Wairarapa), about the application of the £l6 income tax rebate to married couples, stated: “The rebate of £IU will apply to all individuals and will not be withheld in the case of a married woman with a taxable income in her own right. In cases where the incomes of man and wife are aggregated for income tax purposes provision would be made foi the allowance of two rebates in the joint assessment."

The Minister of Agriculture. Mr. E. L Cullen, answering Mr. Holyoake, said the Government was anxious to facilitate the economic use of fertilisers on hill country, and as soon as the reduction of the exchange rate could properly be gauged he intended to discuss the position of fertiliser prices with his colleagues to determine what steps, if any, should be taken to adjust freight charges.