VITALLY INTERESTED

Gisborne Herald, Volume LXVI, Issue 20007, 4 August 1939, Page 5

VITALLY INTERESTED

N.Z. MANUFACTURERS PROVISIONS IN BUDGET (Per I’i'oss Association.) WELLINGTON, last night. Mr. W. 11. Stevens. president of the Wellington Manufacturers’ Association, takes exception to the statement that there is nothing in the Budget oi particular interest to manufacturers. They are an essential and robust part of the community, he says, and perhaps more vitally concerned in the provisions of (the Budget than any other section, because it is reported that the Minister of Finance, the Hon. VV. Nash, has made arrangements with English manufacturers that only industries- which -can hold their own are to be allowed, under the new credit arrangements, to operate in New Zealand and. therefore, the cost of production and distribution will determine whether the industries are economic. As manufacturers they must clo all they can to -oppose any measure that wifi increase costs and make it impossible to compete with- imported manufactured goods. lie monitions the increased- petrol tax, three-fifths of which he understands the Minister of Industries’ and Commerce, the Hon. D. G. Sullivan, to have stated will be carried by the commercial 'Community, the increased company tax, -which will have a restraining effect on company formalien, and 1 'the administration and increased income tax on individuals, which will direct more money from investment channels to the Government coffers.