IMPORTERS’ HURDLE

Poverty Bay Herald, Volume LXI, Issue 18545, 3 November 1934, Page 15

IMPORTERS’ HURDLE

feXciIANGE Mte “its MA& BEST OF IT” ..“Our imports for the current year, ape likely to snow a considerable increase over the imports for the year ended March 31, 11)34, but the executive is of the opißuyt, that, yuunot profitably be import.qd .to the extent, evidently anticipated by the .in the face of tlie heavy handicap, imposed by the 26 .per cent. .fate, p).u?. Customs dut%,” Mates tne.'pQuM report,,p£ the New Zealand ImportgrV Federation, , “In making this statement federation does .not overlook ..that,. N|w Zealand requires, some £B,OCO,'CCO per annum in London for.debt service..,', Hie, executive realises that by reason ,qf tho decision of the Reserve Bank exchange will remain at the present level for a considerable time, and considers therefore that, it-, is usejfsp to pursue the argument further, Importers must consequently continue to make the best'of a bad’position. “The federation,” the report proceeds, “gave lengthy evidence before the Customs Tariff Commission on behalf of members, and the long-awaited report, of the tribunal has been presented to Parment. Unfortunately, many, of the recommendations qf the commission were hot; accepted by the Government, with the result that duties have not been reduced to the extent expected by thg federation. It was, hoped that greater concessions would have been made to offset to some extent the crushing burden placet! on imports by the 25 per cent, exchange, which ,is pressing, heavily on importers and consumers. The executive feels that, over the past few years, importers have not.received from the Gov, eminent the consideratibn to which they are entitled as representing a large proportion of the business interest and taxpayers of this country.”