CONTROL OF INDUSTRY

Otago Daily Times, Issue 22833, 18 March 1936, Page 10

CONTROL OF INDUSTRY

GOVERNMENT'S POLICY DEVELOPMENT OF NATURAL RESOURCES PREVENTION OF FREAK COMPANIES (From Our Special Reporter) INVERCARGILL, March 17. Certain aspects of the Government’s plans for the development and control of industry were referred to by the Minister of Public Works, Mr R. Semple, when replying at Mataura to-day to a deputation which advocated Government support for a company set up with the object of manufacturing wool-packs, etc., in Mataura. The Minister said that the Government was conscious of the fact that it must face the position and develop the natural resources of the country to the utmost, but it would not allow any wildcat industries to spring up. “ There has been set up,” said Mr Semple, “an Industries Committee, whose job it will bo to investigate any proposals for the establishing of new industries and to find out whether they are likely to be profitable. After we are convinced that it can stand on its own feet we will enable a new industry to commence, but we will not carry any along with perpetual subsidies. Our aim is to prevent the existence of all kinds of freak companies and to put a stop to dishonest company promotion. Millions have been wasted in New Zealand through persons trying to make money out of the flotation of companies, and we are not going to allow the people of the Dominion to be * rooked ’ as they have been in the past. We are going to help industry but we must be sure it is sound. I think flax lis sound. It is natural to New Zealand, and I don’t think we have yet learned the real economic value of the fibre we can get out of flax. This industry is now under close investigation, but there is still room for improvement, and when the industry is fully developed I do not think it will be necessary to import one hag or sack into the country.”