APPEAL FOR EXTENSION

Poverty Bay Herald, Volume LXIV, Issue 19503, 9 December 1937, Page 18

APPEAL FOR EXTENSION

N.Z.-BRITISH TRADE PROMISES RECALLED USE OF SURPLUS FUNDS (Per Press Association.) WELLINGTON, last night. A review of trade and trade relations between Britain and New Zealand, and also suggestions for further expansion, were contained in remarks by Mr. C. W. Budd, president of the United Kingdom Manufacturers and New Zealand Representatives’ Association, at the annual meeting to-day. “We have heard it repeatedly stated by the Dominion Government that it is prepared to spend evex'y penny above interest commitments in the exchange of goods with Britain,” said Mr. Budd. “However. I venture to suggest that after the interest charges are met this year, there will be a credit balance in favour of the Dominion amounting from £7,000,000 to £9,000,000. If this' is spent on goods from Britain the necessary goodwill would be maintained. “We cannot see what is to stop the Dominion from spending this surplus in Britain, instead of proceeding to make trade agreements with foreign countries whose policy is so definitely towards economic nationalism. “Any action, such as a quota on English goods entering this market, will surely bring a quota on our primary produce entering the United Kingdom market. How could we object to this if we start it? I sincerely hope that no more will be heard of such a drastic and unwarranted action being taken by New Zealand.” Only Stable Market “We have been informed continually about the new markets (foreign) that arc available to Dominion traders, but in practice this ‘prospective’ trade never seems to eventuate,” continued Mr. Budd. “Time after time this Dominion is reminded that the United Kingdom is our only stable market, and since trading is a major industry in Britain, everything possible should be done to facilitate a freer exchange of goods between these two countries and the other Dominions of the Empire. “It has even been said that the duties placed on goods entering the Dominion are necessary on account of cheap labour in the United Kingdom. Not only has this been convincingly disproved, but we find to our shame the women and children of New Zealand are being driven back to the milking sheds to provide labour for increased production, so that they may be able to purchase the goods necessary to them. “The farmer cannot be blamed for this state of affairs which is the direct result of the artificial restrictions continually being placed on trade. “Should any world event cause the value of the produce exported from the Dominion to fall in the markets\ of the United Kingdom, the effect would be disastrous to this Dominion and everything possible should be done at this end to see that actions designed to promote trade with the United Kingdom are such that the resulting prosperity will be mutual.”