DEPENDENCE ON BRITAIN
NEW ZEALAND’S PROSPERITY PA AUCKLAND, Mar. 28. New Zealand might suffer severely when the economic tide turned, and the need might arise for an entire review of work, wages and services, said Mr V. L. Larner, chairman of the Auckland Gas Company, at the annual meeting to-day. Prosperity depended on the future of Britain, which was gravely uncertain. Ultimately, New Zealand living standards and economic conditions could not differ widely from those of Britain, which was the only substantial market for the Dominion’s produce. Ultimately New Zealand could secure only what Britain could afford to pay irrespective of agreements in which efforts were made to look after New Zealanders at the cost of Britain. This should be more widely realised. The abnormally high prices for New Zealand’s exports, which caused a large volume of money to be in circulation, as well as buoyancy in the State revenues, could not last indefinitely. The present inflationary conditions were traceable to two causes—the world food shortage and the fear of war.
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Bibliographic details
Otago Daily Times, Issue 27042, 29 March 1949, Page 5
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171DEPENDENCE ON BRITAIN Otago Daily Times, Issue 27042, 29 March 1949, Page 5
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