COST OF LIVING

Chronicle (Levin), 3 April 1948, Page 5

COST OF LIVING

Press Assoclation J

Nationa! Part; To Make . Investtgatioii

(Per

WELLIiWTON, 4-pni 2. x An anno.imeenient tkat the Op- N poartion had appointed a special 4 committee whieh would have the •' assistance oi outside experts, to ' study living" costs ancl price levels, j was made after the caueus of the , Party today. ,1 Mr. Iiolland, in reporfing this, ' said it was agreed that the steady * l-ise in living costs and the Gqv- ' eriiment's' inability to deal 'effee- j tively with the position, -was the inain economic prohlem of the | country today. Inflation was still ( cutting deeply info wages and j costs were rising so rapidly that . wage incrcascs were almost inimediately swallowed by the inereased prices whieh a woi ker and his family had to pay for their daily needs. Many items were of necessity passing« beyond thc'-reach of tko.se on moderate incomes while others were not being produeed because producers were not per mitted to rccover their costs aiitl carn a reasonable profit. • The greatcst need of the mo ment was a stable price level. AU countries whieh had embarked upon inflation had experienced disaster and if New Zeaiand were to avoid a similar experience, a solution must he found to the prohlem. The (jhief worry was borne by the housewife who had to mariage the hoiisehold bndget but • everyone in the community was. affected in a "greater or less degree. The tnsk of the Opposition's committee would be to examinc from all angles the preblem of.restoring the stabilitv of the financittl strueture of New Zeaiand.