PRICE FOR WOOL

Timaru Herald, Volume CLIII, Issue 22477, 12 January 1943, Page 2

PRICE FOR WOOL

Disposal Of Extra 15 Per Cent Recommendation To Government OAMARU, January 11. If the Government accepts the recommendation of the Stabilisation Committee. New Zealand sheepfarmers will receive 8J per cent of the 15 per cent increase in the price for wool granted by the United Kingdom. 51 per cent will n into a special reserve fund to be used for stabilising production costs, and the remaining 1 per cent will be utilised to maintain the domestic price for wool. Announcing this recommendation at a meeting of North Otago farmers on Saturday evening, the Hon. J. G. Barclay. Minister of Agriculture and Marketing, said the question of the handling of the increase of 15 per cent had been referred to the Stabilisation Committee, which, in turn, took the Sheepowners’ Federation into conference. It was obvious, of course, that sheepfarmers could not receive the whole 15 per cent, particularly in view of the Government’s stabilisation policy. To do that would just mean inflation. “There has been a lot of humbug and propaganda in the press about thus 15 per cent increase,” said the Minister. "There has been contortion and misrepresentation and some statements that are quite untrue, but we have not replied, as the question has been, and still is, under negotiation with the Sheepowners’ Federation. Any way. we prefer to talk out our differences We are not going to play any game of ‘heads we win and tails you lose.’ That is why we referred the whole question to the Stabilisation Committee.” With reference to the 55 per cent to be devoted to stabilisation of production costs, the Minister said the actual working of this fund had not yet been decided upon. Various aspects were at present being discussed with the Sheepowners’ Federation, but he was sure that satisfactory arrangements would be made. It Was to be hoped that the sheepfarming industry would realise the necessity to guard against inflation and co-operate with the Government in measures brought about by the war. (Applause.)