PURCHASING POWER FALLACY.
(To the Editor.) Sir,—ln his speech at Stratford Mr. Savage said that “the Government had been directly and indirectly responsible through wage reductions, for the destruction of purchasing power aggregating £100,000,000 since January, 1330." This estimate is on the false basis that everyone in work in January. 1930, would have kept his job throughout the slump in spite of the fall in business. . Anyway, Mr, Skeglund may be able to explain how wage reductions established in May, 1931, could affect the wages earned back to January, 1930. To gay that these 1931 wage reductions reduced 1930 purchasing power is electioneering claptrap. So is the suggestion that the slump in New Zealand is due to the Government policy. It was world-wide and net peculiar to this country or its policy.—l am, etc., ’ FAIR PLAY. Stratford, Sept 4.
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Taranaki Daily News, 5 September 1935, Page 7
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139PURCHASING POWER FALLACY. Taranaki Daily News, 5 September 1935, Page 7
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