OVER £1,000,000

Waikato Times, Volume 124, Issue 20784, 19 April 1939, Page 8

OVER £1,000,000

DAIRY ACCOUNT DEFICIT MINISTER’S EXPECTATION NEED FOR STABILISATION (By Telegraph.—Press Associate*!) WELLINGTON. Wednesday The necessity for stabilisation in New Zealand's economy was stressed by the Hon. W. Nash, Minister of Marketing, addressing the Dominion Dairy Conference to-day. He suggested that dairy farmers should agree to accept the present guaranteed price for 1939-40 season, that being one way of bringing about the stabilisation desired- He said he had put the view of the necessity for stabilisation to the recent conference of the Federation of Labour. A delegate: What did they say?

Mr Nash: They passed a vote of confidence and appreciation in the Minister of Finance.

Mr Nash reviewed the Dairy Industry Account and showed that up to date there was a deficit this season of £870,249 and the deficit would probably be a little more than £1,000,000. Dismissing the £272,000 paid in previously from the Consolidated Fund and last year’s surplus of £565,000 they were at present £500,000 short of the price they had paid out.

Mr Nash referred to the Government’s efforts to improve the position of the sterling funds and pointed out that such a course combined with some effort at stabilisation was essential to keep the cost spiral from growing. He also stressed the desirability of getting men, for instance those employed by public bodies and who might be called non-productive work, into some form of productive work, whether it he on a farm or in a factory and said he would be glad to co-operate with other Ministers in endeavouring to bring that about.

The Minister also pointed out that higher freights were being sought for the carriage of New Zealand produce and said the Government had told the shipping companies the Government would take the responsibility for organising waterfront work by which :t was hoped the charges would be lower.