THINGS TO THINK ABOUT

Chronicle (Levin), 21 August 1947, Page 6

THINGS TO THINK ABOUT

1 FEWER CIGARETTES, SMALLER PAPERS, LESS PETROL The Minister of Finance (Mr. Nash), discussing the likelihood of our having to curtail imports, not only from the hard currency areas, but also from Britain, said that already under the lieensing system we had- bought from Britain only all those goods wliich were obtainable in Britain. We actually had iasued remittance authorities for £123,000,000, although our sterling balance was only £100,000,000, but the goods could not be obtained to anything like the value of the licences. Mr. Nash, discussing ways in which New Zealand could economise on dollars, said we spent more than £1,000,000 a year on tobacco. The value of licences for this year was £1,165,000. "I hope you will all agree witli the policy followed in Britain where thcy have trebled the duty on tobacCo to save dollars," said- Mr. Nash. "Gigarettes in Britain cost 2d each. ' ' Mr. Holland smilingly inquired if this were an indication of tomorrow night 's Budget. Mr. Nash said the conference should consider what Britain had done. If New Zealanders were willing to pay the inereased price there would be some justilication for crediting the extra amount of duty to Britain. That Would at least lielp Britain even if it did not save dollars. However, some means of saving dollars on tobacco imports was being sought. "Think about that," Mr, Nash advised the delegates. Smaller Newspapers Mr, Nash advised ? ewspapei: proprietors at the conference to consider that New Zealand had spent well over £1,000,000 a year on newspriht bought out of Britain 's loan. The people in Britain had two-page newspapers, whereas we sometimes had 12-page papers. The proprietors sliould think out means of reducing the size of tlieir papers so that we would not use Britain 's dollar fuuds to provide us with news. . That was manifestlv unfair. JMr. Nash, discussing films, said we sent away about £500.000 a year also out of Britain 's loan to pay for American lilins. These were not imported on Jicence, but after the lilins had boen shown and the tax dqducted we allowed the balance to be remitted. That was another probleni for th-j conference to think over. Petrol Drain on Dollars .Discussing oil aiffi petrol Mr. Nash saitl lie did not want to trespass au the sphere of his colleaguc, the Minister of Industries and Commerce, a'nd of the finance and conunerce conimittee of the conference, but he amazed at the quantities oi petrol we were lmying from Ameri"an sources. All the people of the Dominion would have to delermine wlietlier we could assist in this directioii. The paramount need at present was to consume and use less from the hard currency countries and to produce more for export to them.* This did not mean closing factories, but the position might he helped by encouraging older people and young people to work more as they did during the war. Mr. Nash said the idea should not be entertaiued that we would import nothing from the United States. but the test would be wlietlier tlie goods were imperative for our immediato needs, or to aid our production for Britain. Licences for purchases in the Lnited Htates were now being reviewed on this standard, and, nlthougli no contracts would have to be broken, the licences which did not yet involve contracts would be reconsidered. Mr. Nash declared that New Zealand could save millions of dollars a year by speeding up the turn-round of ships

thus reducing the chartering charges.Mr. Nash saitl it was only fair to point out that in Auckland, for instance, there was praetically nothing to export at present,' the stores having been emptied, but the task of the watersiders and 'others would be to prevent the stores being refilled later by keeping the goods lnoving rapidly into the ships' holds. Another suggestion of Mr. Nash's was that New Zealand might be able to supply certain hianufactured goods to Britain. even if Britain was already manut'actufing siniilar goods, if, tliereby, Britain would be enabled to export more of her own goods to the harcf currency areas.