IMPORT CONTROL

Otago Daily Times, Issue 27570, 12 December 1950, Page 6

IMPORT CONTROL

Some Further Easing INCREASED LICENCES PA WELLINGTON, Dec. 11. Import control may be lifted from more items within the next few days, the Minister of Customs, Mr Bowden, said tonight. He was giving a postsessional address at Karori. Mr Bowden said he hoped many millions of pounds of additional licences would also be made available. Prices were moving downward at the turn of the year, said Mr Bowden, and it was not expected in the early part of the year that they would again turn upward. He did not think that anyone would have predicted a year ago the tremendous increase which had taken place in. prices caused by overseas developments. The Government, in one year in office, had so changed the financial situation that, instead of a deficit of £ 10,000,000 to £12,000,000, the annual accounts would show a surplus, in spite of additional expenditure on works, defence, social security, debt services and education, and provision for suspensory loans, new subsidies, more for health and hospitals, and substantial taxation concessions.