TRIBUNAL TO BE GUARANTEED PRICE, NOT A NEW OFFER

Wanganui Chronicle, 8 November 1946, Page 5

TRIBUNAL TO BE GUARANTEED PRICE, NOT A NEW OFFER

(P.A.) New Plymouth, Nov. 7. The Government’s offer to set up an independent tribunal to fix the guaranteed prite was nothing new, said the Minister of Finance, Mr. Nash, in an address at New Plymouth tonight. He had made an offer to that effect in 1937, but it was refused by the industry. The industry asked for a tribunal comprising thref industry representatives and three Government representatives, with an independent chairman. This body was to conduct inquiries and make recommendations to the Government. Th* recommendation of the commission was that the guaranteed price be increased by 21d per lb butterfat, provided this did not interfere with the economy of the country. Mr. Nash said he refused to accept the recommendation, holding that there were enemies at work to kill the guaranteed price. The Government decided to increase the price by a fraction over lid. The election came soon afterwards, and “we lost flv. butter seats,” said Mr. Nash, “but even Hd meant a deficit ot two and a half million pounds in the dairy industry account at the end of the year.”