Plan For Combined Car Industry

Press, Volume CV, Issue 31057, 12 May 1966, Page 1

Plan For Combined Car Industry

(New Zealand Press Association) WELLINGTON, May 11. The Parliamentary Labour Party has been directed to investigate the establishing of a motor-vehicle manufacturing industry financed on a basis of 50 per cent State and 50 per cent private enterprise.

Such an industry was the subject of a remit before the Labour Party conference late, this afternoon.

The conference accepted a recommendation that the remit be referred to the Parliamentary Labour Party for favourable consideration and investigation. The conference referred to the Parliamentarians for ac-. tion on a remit calling for the harnessing and utilising of water supplies throughout the country'. This would be on a national basis, similar to the production and reticulation of electricity

The conference rejected a remit that a publicly owned and fully competitive corporation be established to operate in the real estate field and the rental vehicle business.

It adopted a recommendation that “a more vigorous and competitive policy be adopted by the Bank of New Zealand."

“As a first step we would require the Bank of New Zealand to withdraw from the New Zealand Bankers’ Association.” the recommendation said.

Also adopted was a recommendation that a greater measure of control through the Reserve Bank be exercised over ail phases of banking in New Zealand, “with a view to ensuring that the State exercises complete control over the issue of credit and currency." The conference endorsed in principle the social ownership of all freezing works, and the recommendation that all future freezing works be co-

operatively owned and controlled. It referred to the Parliamentary party for action, a remit that a State deep sea and distant water fisheries’ organisation be established.