IMPORT LICENCES

Otago Daily Times, Issue 24410, 23 September 1940, Page 8

IMPORT LICENCES

FIFTH ISSUE NEXT WEEK INCREASES IN SOME LINES REDUCTIONS IN LUXURIES (Per United Press Association) . CHRISTCHURCH, Sept. 21. " The fifth-period import licences will be issued next week," said the Minister of Finance (Mr W. Nash) today. " The schedules will provide for increases in some commodities and corresponding reductions in other lines, chiefly luxuries." The Minister saia he had spent the past week in consideration of the schedule. It had been found desirable to make increases in certain lines which were valuable in production, or which were wanted in New Zealand because they were vitally necessary and could not be made here. He could not indicate specifically what type of goods would be affected by the inCr6HS€. Discussing import controJ generally Mr Nash said it was due largely to fortuitous circumstances that New Zealand had been able to build up substantial sterling reserves and other overseas credits.

Many people. Mr Nash added, believed New Zealand could aid Britain in.her war effort by taking more British goods, as well a. sending more New Zealand products to Britain, but the truth of the matter was. that Britain did not want credits in New: Zealand She wanted them in foreign countries where credits would do more good "I venture to say that nine out of every ten people in New Zealand would want the Dominion to send- Britain all she .wanted, even if Britain could not pay." declared the Minister "We can help Britain by taking imports of commodities cf which she has a surplus but Britain certainly does not want New Zealand to take other' products which could be more effectively disposed of in foreign markets."