OVER £24 MILLIONS

Grey River Argus, 25 February 1941, Page 6

OVER £24 MILLIONS

WAGES IN N.Z. ..—„ -—. From Manufacturing VERY FAST EXPANSION CHRISTCHURCH, February 24. “During the year 1939-40, very real progress was made in the manufacturing industries of New Zealand,’ said Hon. D. G. Sullivan, Minister of Industries and Commerce, in an interview. “I have always insisted that New Zealand could develop her manufacturing industries, and that, by do-

ing so, we would provide greater opportunities for our people to find gainful employment. Then the created wealth due to the application of the skill and ingenuity of our people helps to strengthen the economic structure of our national life.

“Over the past five years, the Dominion has added to the payrolls ol productive industry an average ol about 5000 persons annually,” said Mr Sullivan. “I have just received official figures relative to our manufacturing industries for the year ended March 31, 1940. The story these figures tell is a story of real progress, and, despite the war situation, steady gains have been made, ror example, the number of persons engaged rose from. 102,435 to 108,722, an increase of 6287 during the year under review The salaries and wages paid rose by £1,190,539, to reach the figure of £24,460,549. “An increase of £9,617.266 is recorded in the value of the materials used, bringing this to £84,961,407. “The value of the products reached the splendid total of £129,661,826, as, against £113,691,556 for the previous year, an increase of £15,370,270. The added value—that is the wealth created by our manufacturing industries —rose by £5,513,036, increasing from £38,607,383 to £44.120,419. These

figures demonstrate very clearly the measure of our progress, and it will generally be agreed,” Mr Sullivan said, “that the record of the year 1939-40 should give cause for satisfaction.

“More created wealth, more spending power in the hands of the people, more and more goods pouring out of our factories and workshops, more opportunity for our young people—all these are represented in

these figures, and I cannot but express my admiration to the manufacturers who have made it possible, by their initiative, co-operation and confidence.

“The manufacturers have helped substantially in the march of progress. I express, therefore, my deep appreciation of the position, and I know that the' work accomplished and in process of being accomplished, so far as the expansion of manufacturing :is concerned, will be very helpful in the great work of rehabilitation that awaits u s when peace is restored.”