OVERSEAS FUNDS ‘Onus On Govt. To Educate Public’

Press, Volume CVI, Issue 31109, 12 July 1966, Page 3

OVERSEAS FUNDS ‘Onus On Govt. To Educate Public’

(New Zealand Press Association) AUCKLAND, July 11. The Government could retain votes by educating the public to face reality on the economic situation, Mr C. R. Larson, an Auckland economist, told Auckland Rotarians today.

He called on politicians to review their assumption that generous allocations of overseas funds would gain votes —“especially when everyone knows that a day of reckoning must come eventually.” Private ent srprise had to scramble for its share of imports to keep pace with competition, but no-one really condemned a strong referee who fairly kept everyone to the rules of the game. Private enterprise was being forced to tighten its belt through import cuts and a credit squeeze, but the Government’s spending beyond the means of the country, was showing no evidence of giving a similar lead. In fact, the Budget

showed it to be doing the re-: verse.

He predicted that for the' next few years the New Zea-j land economy would sail! close to the wind, but in the) long run production would: rise to ease difficulties. Mr Larson is a former) member of the Board of, Trade and was assistant to; the 1951 Taxation Commitee.