THOUGHTS FOR THE TIMES.
DOMINION AND COMMONWEALTH COMPARED. *- 0 ,- “New Zealand has great advantage# over Australia in that it is practically on a basis of world’s prices, and this means that the trade is on a sound foundation, and therefore less liable to extreme changes than in Australia, where attempts have been made to establish internal price levels independently of the world’s price levels. New Zealand, like Australia, is a debtor country, and therefore ljas to provide a surplus of exports over imports to meet demands abroad for interest and other payments, but' Australia within recent years has been providing thisi surplus by borrowing money abroad—a process that cannot be indefinitely continued, and may be described as a Mantellini form of finance which ia the end has disastrous results. “It is highly important for New Zealand that her, internal level should he closely related to world’s prices—in other words, for New Zealand to cut the coat according to her cloth. In this connection it seems to me that a high rate of company taxation is an undesirable feature of the New Zealand Government finance. ** -—Sir Lennon Raws, a distinguished visitor.
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Hokitika Guardian, 10 December 1929, Page 4
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190THOUGHTS FOR THE TIMES. Hokitika Guardian, 10 December 1929, Page 4
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