N.Z. MANUFACTURERS

Grey River Argus, 3 December 1938, Page 8

N.Z. MANUFACTURERS

Want Check ON COMPETITIVE IMPORTS WELLINGTON, December 1. After the conclusion of the annual conference of the New Zealand Manufacturers’ Federation, a meeting of the New Zealand council, which directs the activities of the federation, was held. Among other matters referred to it, by the conference the question of excessive importation from overseas was given full consideration . , “It seems desirable, in view of the importance of this subject, and also in view of the publicity given to the rejection by the conference of a motion dealing with it, which seemed to indicate that the manufacturers organisation is opposed to any interference with the present dangerous level which importations have reached that a considered statement of the policy of the Manufacturers’ Federation should be made,” says a statement issued by the council. “The council desires to state, in the clearest terms, that it has always been of opinion that there should be a definite policy of regulating the importation of any goods iron l overseas which can be economical y made in New Zealand. This is a fundamental part of the federations policy, and always has been, and for that reason the conference whicn has just ended unanimously adopted, at the commencement of its meeting, a remit from the Auckland Association urging the Government to give all necessary protection to manufacturers from overseas imports. “The Manufacturers’ Federation, throughout' its history, has; constantly advocated a policy of development of manufacturing industries in New Zealand ott the grounds that such a policy is the only one which will provide a balanced economy for the country and bring in its train the well-being of. every section of the community. The major portion of the federation’s activities has always been directed to the attainment of this ideal- for the reasons indicated, and it was because of that basic principle that the conference rejected the motion. The conference approved of the sentiments implied in the proposal; but not with its limited implications. “The council is perfectly clear that manufacturing can only be developed if funds are available, and therefore is seriously concerned over then withdrawal at the present time, and it urges the Government to bring forward without delay the proposals to develop manufacturing which Savage and Mr. Sullivan have indicated. If this is done quickly we believe that funds will readily flow back for investment in industry, and we will witness a very substantial improvement in the position. At the same time the unemployment position will be progressively improved. “The Manufacturers* Federation has promised the Government its cooperation, and now awaits the proposals which have been promised with the keenest interest, and with the expressed determination to play its part to the full in furthering the Government’s intention to develop our industries to the utmost extent.”

FLIGHT OF CAPItAL. A MANUFACTURER’S OPINION. WELLINGTON, December 2. Mr David Henry, vice-president of the New Zealand Manufacturers’ Federation, states that, at a conference held this week, during the discussion on a motion dealing with the transference of funds overseas, he pointed out that, just as our manufacturers had liberty to sell their goods where they secured the best returns, it seemed illogical for them to deprive investors of the same freedom of action, and for that reason, he opposed the particular motion referred to. His view was that money Should be at-, tracted into New Zealand, and equally attracted to remain here, and that the potent power of attractions would be more valuable than the application of restrictive influence, but, if the Government considers that the position of the overseas funds was sufficiently critical to justify restrictive measures, he hoped that these would be purely temporary. In common with every other person who was proud of New Zealand, he deplored the drift of money from the country, and his own view, was that the announcement by the Government of the details of the plan for the further development of manufacturing industries in New Zealand would do a great deal to attract capital into industry, and witness the return of funds which had gone overseas. Confidence was the chief cornerstone of the industrial fabric, and he felt certain that it would not be lacking when the public Were fully informed of the Government’s plans for developing industry.,