PRICE CONTROL

Otago Daily Times, Issue 26782, 27 May 1948, Page 4

PRICE CONTROL

ATTITUDE FOR FUTURE TRADES COUNCIL VIEW PA WELLINGTON, May 26. Decisions of the Price Tribunal would in future take more account of the ability of an industry to meet increased costs from piofits rathei than permit the automatic passing on of costs to the consumer with resultant pressure for higher wages, stated the report of the Wellington Trades Council presented at the annual meeting of the council. to-night by the president, Mr F. P. Walsh, who is a member of the Stabilisation Commission. He was speaking on the Control of Prices Act which was passed last session. , “ There has been a tendency in the past for manufacturers to switch from the production of necessities where profit margins have been rigidly controlled to luxury types where control has been less rigid,” the report said. “It is hoped that the tribunal’s powers will be directed towards the prevention of this anti-social practice. The course of price control in the coming year will be watched with interest. “We cannot permit prices for wool to upset the economy of farm production and to undermine the whole policy of stabilisation. Furthermore, it places woolgrowers in an advantageous position over other farmers and workers who are adhering to stabilisation.”