GUARANTEED PRICES

King Country Chronicle, Volume XXIX, Issue 4762, 22 October 1935, Page 5

GUARANTEED PRICES

LABOUR’S POLICY. MR. NASH AT CAMBRIDGE. \ (By Telegraph.—Press Association.) Cambridge, this day. The Labour policy of guaranteed prices was elucidated by Mr. Nash, M.P., speaking to a crowded hall at Cambridge last evening. Mr. Nash explained that competition and not the nutritive value of our primary produce was likely; to destroy industry. “No industry can live against enormous price fluctuations as experienced on the butter market. Therefore guaranteed prices are necessary,” he said. Mr. Nash explained that guaranteed prices had been applied successfully by nearly every other country. Outlining a working scheme Mr. Nash said: “A Labour Government could pay next season’s produce at a guaranteed price to be determined on the past price averages. After the first season overseas, especially British, markets would be explored for maximum sales of our produce. Added to the total local consumption the amount would give the total production necessary for next season to be paid for at guaranteed prices sufficient to fully cover production costs, and the living expenses of the producer. The Labour Party would purchase the private shares in the Reserve Bank, making it a Government credit authority which would stand the deficit between world prices and guai’anteed prices, and in excess boom years to create a reserve fund. National superannuation and the health schemes proposed by Mr. Savage were also explained. Mr: Nash advocated statutory wages reorganisation, an educational system providing extra equal facilities for the kindergarten to the university. A vote of thanks and confidence was passed by the meeting.