Imports Restriction Policy Announced

Northern Advocate, 22 April 1939, Page 7

Imports Restriction Policy Announced

[Per Press Association. Copyright. ] ■ WELLINGTON, This Day.

Details regarding the basis on which licenses are to be issued in respect of imports during the second half of this year were announced today by the Minister of Customs, the Hon. W. Nash.

Explaining the position, Mr Nash said: “Indications are that there will be some contraction in the return from exports this year, compared with 1938. The funds that did accrue from exports last year were insufficient by a considerable margin to cover the cost of imports in 1939, after providing for debt services and other charges accruing overseas. In the circumstances, it was unavoidable that imports should be reduced, and the Government has taken the course by means of which it can best control the situation.”

Although reductions had been applied to imports of a number of classes of goods during the first half of the year, certain factors operated which tended to offset those reductions, in so far as the total volume of

imports was concerned. Necessarily, the whole position would require to be reviewed later in the year, and it was hoped, said Mr Nash, that considerable relaxation would be possible in respect of next year’s imports.