THE OBVIOUS CONFIRMED

Otago Daily Times, Issue 25851, 23 May 1945, Page 4

THE OBVIOUS CONFIRMED

HARM DONE TO DOMINION “Mr Holland's statement only confirms what has long been obvious, namely, that the trade restrictions imposed by our present Government have aroused bitter resentment on the part of our best and most generous customer, which is Britain,” said Mr W. Downie Stewart, a former Minister of Finance, last night. “This was quite obvious when Mr Sullivan was in England, in spite of his specious excuses to the British manufacturers. It was equally clear when Mr Nash was in England. “ I have long held the view that our Government has done us more harm by its trade policy than by its blunders in internal affairs, which' affect ourselves alone.

“Prior to the present regime, our policy was to grant reasonable tariff protection to local industry, but not a monopoly,” Mr Stewart said. “This promoted efficiency and reasonable competition. It should be noted that the present import restriction policy was not rendered necessary by the war. It was imposed in 1939 because, as Mr Nash admitted, Government policy had reduced our London funds to a dangerously low level. I cannot understand how Mr Nash reconciles his policy with the spirit of the