NO PROFITEERING
INCREASED EXCHANGE RATE
MINISTER'S ASSURANCE
No complaints of profiteering as the result of the increased exchange rate have yet been received by the Minister of Industries and Commerce (the Hon. E. Masters). If any are made they will be investigated, and, if substantiated, action will be taken under the Board of Trade Act.
Interviewed on the subject, Mr. Masters said that no complaints had been received so far, but if any were, a full investigation would be marie. The Board, of Trade Act only governed foodstuffs and other necessities, and action could .only be taken if profiteering was attempted in respect of items covered by the Act. If any complaints wore substantiated, he would see that the public of the Dominion did not suffer through unfair advantage being taken oJ the increase in'exchange premiums.
Instead of prices being increased, added the Minister, cases had been brought to his notice where the British manufacturers were carrying the cost of the increased exchange and goods were still being sold at the same prices as before. In order to compete with locally-manufactured, goods, some overseas producers were lowering prices so that the selling price in the Dominion would be the samtj as previously.
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https://paperspast.natlib.govt.nz/newspapers/EP19330213.2.116
Bibliographic details
Evening Post, Volume CXV, Issue 36, 13 February 1933, Page 9
Word Count
202NO PROFITEERING Evening Post, Volume CXV, Issue 36, 13 February 1933, Page 9
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