TIME NEEDED FOR STABLE ECONOMY

Press, Volume CV, Issue 31003, 8 March 1966, Page 15

TIME NEEDED FOR STABLE ECONOMY

<New Zealand Press Association) WELLINGTON, March 6. The trend of New Zealand’s overseas trade does not point an ' re l axa tion of controls, the Minister of Customs (Mr Shelton) said last night.

The Minister—in an address to open the annual conference of the Retailers’ Federation at the Chateau Tongariro warned: “We may not be able to sustain quite the rate of growth so far enjoyed. We shall certainly need to be careful for the next year or so.”

He said the Government sought stability and its policies were designed to avoid severe disruptions in the economy. This necessarilv meant that a little time would be needed to meet the situation.

"We aim for the greatest volume of goods—consistent with national economic stability—to be made available to consumers.”

Mr Shelton said the need to keep stability and purchasing power in the community and to ensure a sufficient supply of raw materials essential to manufacturers were among the factors kept in mind when an import licensing schedule was prepared. The need to export, to have enough consumer goods for variety, to avoid waste and to encourage and stimulate New Zealand’s own resources, skills and initiatives were other factors, along with the ne->d to maintain and if possible increase growth for the sake of a prosperous and diversified economy. “TALL ORDER” "Quite a tall order, isn’t it to save funds and at the same time do all the things needed to maintain productivity and improve our standards,” Mr Shelton said. With all the economic growth, the steady rise in population and rapid technological advances, it did not require much foresight to realise how rapidly these changes put pressure on New Zealand’s ability to earn overseas funds,” he said. “And unfortunately at the moment we are suffering both ways—in the level of export receipts—in prices of essential commodities,” he added. In the six years ending last June, the total retail trading increased by £219 million—almost 45 per cent, said Mr Shelton: in the same period turnover increased from £4BB million to £707 million.

In just over 10 years New Zealand had 32 per cent increase in total imports but there was 94 per cent increase

in domestic production and 93 per cent increase in retail sales. “Because, without import licensing, the overseas exchange would not have been available to meet all capital and consumer demands, retail sales could not possibly have reached this volume,” the Minister said. “This high level has been achieved substantially on New Zealand’s own production.” WAYS TO HELP Mr Shelton offered to the federation ways in which the retailer could help New Zealand manufacturers. The retailer must: Take a positive attitude towards New Zealand goods.

See that service is given. Interpret public opinion and pass it back along the chain so that criticism, complaints, suggestions, ideas for improved models are passed on to those who can use them. “The retailer has a vital function to perform in establishing a product,” the Minister said. “This is not to say that faulty articles should be accepted or attempts made to foist them on to the public. “Where goods won’t sell because of price, poor quality, bad design, inferior packaging—then in all these matters the retailer has a duty to inform and co-operate with the manufacturer."