HIGH EXPENDITURE
• - -- » Need for Review oi Basis of Taxation MORE TRADE ACTIVITY "Prices are good to-.day and trade is active, and there is money iu the pockets of the people,' ' said Sir Austin E. Harris, "but oue cannot regard the lavish expenditure without eonie con* cernf for there will come again in its due 'course a period of reaction and lower prices, when trade will find it diflicult, if not impossible, to bear the additional costs which are being iui* posed. on it by legislation, and the minimum wages and shorter hours may become an economic impossibility. lt is then that the policy of guaranteed prices will be put to the test; it may be a severe strain. However 'sufiicient unto the day is the evil thereof' — and as I have already said, we are loohing on with sympatlietic good will to the steps which the Government ara taking to iiuprove tho lot of the people." The trade figufes fof the year to March 31, he said, showed a substantial rise in value for both exports and im* ports. Exports were valued at £48,381,000 sterling, as against £39,901,000 last yeur,_ and imports at £38,250,000, as against £30,048,000, giving a sterling surplus of £10,131,000, whieh was £300,000 more than that of last year. Expofts of dairy produce accounted for £21,765.000 (New Zealand currency), or 3(11 per cent. of the total. The quantity of all dairy produce shipped was 245,754 tous, or 16,718 tous more than. last year, and the value increased by £3,128,000. The trend of prices had been of nlore immediato concern to the Government than the farmer since thb beginning of August last, when the Government assumcd control of dairy produce and the farmer received a guaranteed price. It now appeared that tho Government Would come through their first experimental season of produce control with little or no loss. There was the possibility of wool and meat being similafly controlled, but it is now clear that the Government do not intend, for the moment at least, to assume this controli
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Bibliographic details
Hawke's Bay Herald-Tribune, Issue 185, 23 August 1937, Page 13
Word Count
341HIGH EXPENDITURE Hawke's Bay Herald-Tribune, Issue 185, 23 August 1937, Page 13
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