PRICE INVESTIGATION

Otago Daily Times, Issue 23955, 2 November 1939, Page 9

PRICE INVESTIGATION

TRIBUNAL’S ADDITIONAL POWERS MINISTER ANSWERS CRITICISM (Per United Press Association) AUCKLAND, Nov. 1. The announcement that arrangements are now being made to clothe the Price Investigation Tribunal with additional powers, which will enable it to fix particular prices and to apply the procedure of “ averaging ” prices where necessary, is made by the Minister of Supply (Mr D, G. Sullivan) in a statement replying to recent criticism of the tribunal. The Minister said this extension of power would meet certain difficulties which traders had been experiencing with regard to replacement costs. “ The additional powers will also enable the tribunal to allow a margin of profit on the increased cost where a reduced turnover or increased overhead justifies such allowance,” Mr Sullivan said. “ Where by reason of the large number of items dealt with by the trade it is impracticable to make individual application in respect of each item, the tribunal will accept any reasonable scheme submitted by the trader by which the items can be grouped in one application. The tribunal has, in fact, adopted this procedure for some time past. It has also .been accepting applications by certain trade organisations on, behalf of all their members, thus obviating the necessity for individual applications. Arrangements have now been made for this procedure to be extended to other organisations, particularly the organisations of grooers. It has been stated that some traders have raised their prices in defiance of the regulations. If this is so it must be clearly understood that such conduct, especially in this time of emergency, will not be tolerated, and the offenders will be prosecuted without the slightest hesitation. The Government has every confidence in the tribunal to deal with the interests of all concerned in a just and equitable way. All must remember, however, that the international markets have been greatly disturbed by the war and our efforts to deal effectively with prices in New Zealand will depend upon the degree of co-operation and reasonableness exhibited by all those affected by the tribunal's operations.”