IMPORT CONTROL

Wairarapa Times-Age, 23 March 1939, Page 8

IMPORT CONTROL

STATEMENT BY MR SAVAGE. POSITION SETTLING DOWN. (By ■ Telegraph—Press Association.) AUCKLAND, March 22. Discussing the import control policy, the Prime Minister, Mr Savage, said in an interview today that the position was gradually settling down. Ample provision would be made for the importation of raw material to assist industrial development. “We have to conserve our overseas credit, therefore we want the assistance of the manufacturer,” he added. “We do not desire them to order two years’ supply for 12 months' needs.” Asked if it was necessary to make further restrictions for the second six months, Mr Savage said he could not say definitely, but it might be possible. “We have done no borrowing overseas since being in office. We intend to carry on that policy as far as we can, but if we had to borrow from overseas for the supply of raw materials we would apologise to no one.”

Mr Savage said that when the position settled down the sterling funds in London would presently start to accumulate.

Replying to a question, he said that there has been many requests from overseas manufacturers, specially Australia, for the right to establish branches in New Zealand, but the Government had to be careful that there was not too many manufacturers of one class of goods. “The Government is doing aR possible to fill the big gap caused by exchange control,” he said. “It is up to us and those engaged in industry to do everything humanly possible to fill that gap. Upon our efforts depends the standard of living of the people. The mere paying of higher wages will not fill the gap. Higher incomes generally will not do it.”

Mr Savage added that some thought all that was necessary was shorter hours and higher wages. That was the road to disaster. New Zealand’s destiny depended upon production.