LET US SPEND SOME MONNEY IN BRITAIN

Chronicle (Levin), 1 June 1946, Page 5

LET US SPEND SOME MONNEY IN BRITAIN

■Press Association

By Telegraph—

WELLINGTON, May 31. The opinion that the sum of £40,000,000 should he rnade available immediately from New Zealand 's accumulated sterling halances in London to faciiitate. further trade with Britain and relieve the shortage of consumer goods in New Zealand, is expressed in a statement issued after the National Party caucus which concluded today. j In announcing this, the Leader of the j Opposition, Mr. S. G. Holland, said he j and his colleagues took the view that [ two-way trade hetween Britain and , New Zealand was of overwhelming importance to both countries and in view of the fact that New Zealand now had something like £88,000,000 in accumulated funds in London, after paying off upwards of £41,000,000, of national debt. They tliought iilimediate action should be taken to expedite the flow of goods subject only to availahility in England and ahMity to obtain shipping space. There wero many Iines badly needed in New Zealand wliieh •could not be, supplied from local resources. I'riority should be giveu essential building niateriuls, hydro-electrie niachinery, farming equijunent, manufacturing plant, liouseliold furnisliings and other goods in short supply of which New Zealand eunsuniers, espeeially liousewives, stood in a real need. ''The-adoplion .ot' this proposal, " "would assist in couiiteracting the liarmful efl'ects of present inflation and its aceompanying rises in living costs and would go a long way towards equating tlie supplv of goods with tlie existiiig jiurchasing power besides hastening- tlie removal of restrictions on many lines of goods-'' Caucus also declared * its support of Imperial jireference in order to maintain a strong British Empire and saf'eguard Xew Zealand 's owu prosperity.