British Views On Exports lo Dominion

Northern Advocate, 10 March 1948, Page 5

British Views On Exports lo Dominion

WELLINGTON. Wed. (P.A.) The New Zealand Government's views as interpreted by Mr Nordmeyer in his statement in reference to imports during 1948. were contrary to the official views of the British Board of Trade, said the chairman of the action committee of Federated Farmers (Mr R. G. Buckleton) today.

Mr Buckleton said the official publication, the Board of Trade Journal, on January 24. had quoted the President of the Board of Trade (Mr Harold Wilson) as saying that Commonwealth countries in the sterling area were in a special position. Mr Wilson, according to the journal, added: “Unless we could supply goods which were essential to their economics, they would have to buy them with dollars or with some other hard currency, thus causing a strain on our common reserves.

"Exports, therefore, which supplied the essential needs of the sterling Dominions and Colonies were just as much helping to maintain our reserves as exports direct to dollar countries. LONG-TERM ASPECT “Moreover, it was the Government's policy to seek the steady building up of supplies to the United Kingdom from countries in the sterling area and we must not overlook the long-term significance of our export markets in those countries.” Mr Buckleton said Mr Nordmeyor’s figures regarding import allocations and percentages showed that out of a total of £950.000.000, only 2 per cent was allocated to agricultural and dairying machinery, and tractors, and 3 per cent to fertilisers. These two items, Mr Buckleton said, were absolute and basic essentials to New Zealand's main industry, which was one that produced almost the whole of New Zealand's export income. “While farmers as a group enjoy a small percentage out of other classes of imports, we can only assume that the percentage of farmers’ essentials out of the total export income earned by us is ludicrously small.” he said. "It is obvious that during the import orgy of 1947 this country was well supplied, if not flooded, with a great many non-essentials. FRITTERED AWAY "This has frittered away almost the whole of our dollar resources and a large part of our sterling funds. “It would appear that our dollar position is desperate and our sterling position is most uncomfortable. "We have no option but to live within our income, and if we desire to maintain our present standard of living we must produce far more than we are producing today, particularly in industries other than farming. "In other words, this country has got to get back to work.

“Otherwise, importers, retailers and consumers are likely to be without many of the things they think they ought to have.”