STATIC WAGES COSTS
“ROOT OF PRESENT TROUBLE”
‘ ‘ What is the root cause of the position we have got into —a position which has caused the raising of the exchange rate to be considered?” asked Mr J. P" Luke, president of the Wellington Chamber of Commerce, addressing a special meeting of the council. _ A member: Too much borrowing.
“No,” said Mr Luke. “If you go back far enough you’ll find that the reason for all these troubles is 'the industrial Conciliation and Arbitration Act. That Act has controlled and •frozen the one commodity that is the basis of every commodity. Every cost eventually is a wages -cost, and the I.C. and A. Act has made wages costs static while every other cost has moved.”
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17945, 24 November 1932, Page 11
Word Count
123STATIC WAGES COSTS Poverty Bay Herald, Volume LIX, Issue 17945, 24 November 1932, Page 11
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