LONG-TERM VIEW

Otago Daily Times, Issue 27382, 6 May 1950, Page 6

LONG-TERM VIEW

Government’s Action READJUSTMENT NECESSARY Naturally the lifting of subsidies on certain commodities would mean that this cost would be paid more directly by the consumer. But if, in the long run, the country’s economy were to move gradually away from an inflationary state, then later the people deserved some permanent relief from the cost of those same commodities, said the president of the Dunedin Chamber of Commerce, Mr V C. Preen, in a statement to the Daily 'Times last night. “It must be admitted that no country can flourish if its products are sold out at cheaper rates than the cost of production,” Mr Preen said. “Nor can it flourish by a method of subsidisation. We must have the will to tackle the present problem and so ultimately help ourselves to bring about a lower cost of living. “ The Prime Minister’s announcement tonight hits us unkindly,” Mr Preen said “ but to profit by it we must be prepared to readjust ourselves to attain a higher production level from the primary and secondary industries and from the business executives to the juniors throughout thg country.”