UP 15 PER CENT

Auckland Star, Volume LXXIII, Issue 120, 23 May 1942, Page 8

UP 15 PER CENT

PRICE FOR WOOL GREAT BRITAIN AGREES (P.A.) WELLINGTON, this day. An increase of 15 per cent in the price to be paid by the United Kingdom for the 1942-43 wool clip of Australia, with a corresponding adjustment in the prices paid to South Africa and New Zealand was announced to-day by Mr. Barclay, Minister of Agriculture, who said he had received official advice from the United Kingdom High Commissioner, Sir Harry Batterbee, to that effect.

"The increase," said Mr. Barclay, "has finally been determined on as a result of discussions which had recently taken place in London between Dr. Evatt and the Chancellor of the Exchequer."

The New Zealand Government had advised Great Britain that the costs of production and handling of wool have increased since the outbreak of the war, but no formal application for an increased price had been made at the time, the agreement having been reached between the two Governments that any increase granted to any other Dominion would be subject to a corresponding adjustment for New Zealand wool.

The Minister added that the prompt action by the British Government would undoubtedly be fully appreciated by the New Zealand producers.