PRICE CONTROL

Wairarapa Times-Age, 11 May 1939, Page 7

PRICE CONTROL

CONSTITUTION OF SPECIAL TRIBUNAL POWERS OF JUDICIAL INQUIRY. SAFEGUARD AGAINST EXPLOITATION. (By Telegraph—Press Association.) WELLINGTON, This Day. The appointment by the Government of a special tribunal to exercise control over prices is announced by the Minister of Industries and Commerce, Mr Sullivan, in this week’s issue of the official journal of the Labour Party. The tribunal is to consist of his Honour Mr Justice Hunter and an investigating accountant. Mr Sullivan said that while the Government did not aim at preventing any necessary increase in price that could be justified, it was strenuously opposed to any section of the business and commercial community taking advantage of the present situation to exploit the public by increases that were unreasonable and that could not be justified on any legitimate grounds. “The Government has decided to appoint a special tribunal, whose function it will be to exercise continuous supervision over prices, to examine price increases, to arrange for investigations and inquiries in regard to such increases, and in regard to the reasonableness or unreasonableness of prices, and to make recommendations to the Government thereon,” said the Minister. “The tribunal will be given the powers of judicial inquiry under the Board of Trade Act, 1919, and will be able to call persons before it, if necessary, • to give evidence in support of any increases in prices.

“In addition to this, the Government has decided to pass regulations under the Board of Trade Act requiring persons who are about to increase their prices to notify the tribunal to that effect and to give reasons in support of their action. The tribunal will examine the reasons put forward for the increase, and if such increase is not justified the matter will be taken up by the tribunal with the parties concerned. This procedure will make for more effective control over prices.” Mr Sullivan said that the Government was adopting this procedure by reason of the attitude of a few toward the present situation.