WOOL SUPPLIES

Wairarapa Times-Age, 8 July 1942, Page 4

WOOL SUPPLIES

NO INCREASE IN LOCAL PRICE. GOVERNMENT DECISION ANNOUNCED. (By Telegraph—Press Association.) WELLINGTON, This Day. “The 15 per cent increase in the price of wool was granted by the United Kingdom Government in respect of wool available for export only, and therefore does not apply to wool required for domestic manufacture,” said the Minister of Marketing, Mr Barclay, replying in the House of Representatives last evening to an urgent question asked by Mr Denham (Government, Invercargill). The Minister said that in New Zealand wool was a stabilised commodity, and it had so far been the policy of the Government to maintain the price of stabilised commodities. The stabilisation of local wool at the present level, said Mir Barclay, would involve a reduction of only 1| per cent in the increase granted by the United Kingdom Government, and this would mean that the industry over the total clip would still receive an increase of 13| per cent. In view of this he had recommended to the Government that the maintenance of local wool prices at the present level would inflict no hardship on the wool industry and should be maintained.