NEW ZEALAND'S PROBLEM
■■ .1.1 — COSTS AND PRICES. EXPERT'S COMMENTS.
N.Z. Press Assn.-
-By Tel. Copyright.
(Received June 25, 9.10 ,a.m.) LONDON, June 24. The Economist, commenting on the New Zealand recovery, suggests that future budgetary policy should follow the Australian exaimple of freely using Treasury Bills, even .if it is counter to New Zealand banking ccnservatism. It says the>gap between costs and prices is still considerable. While the producers' income has fallen 40 per cent. since 1930, internal costs have been reduced only 20 per cent, Finatncial policy must, therefore, aim at a long pericd of regulated adjustment, in order to take full advantage of the world markets, as fuirther overseas borrowing and cuts in expenditure are impossible. The narrowing of New Zealand's export markets makes it vital that Britain should be induced to agree to lceiprccal free trade. The value of the New Zealand markeo to Britain gives her a strong baTgaining power.
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Marlborough Express, Volume LXVIII, Issue 148, 25 June 1934, Page 5
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154NEW ZEALAND'S PROBLEM Marlborough Express, Volume LXVIII, Issue 148, 25 June 1934, Page 5
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