NOT PERMANENT

Wairarapa Times-Age, 2 May 1939, Page 5

NOT PERMANENT

PRESENT IMPORT CONTROL POLICY. STATEMENT BY MINISTER OF FINANCE. (By Telegraph—Press Association.) AUCKLAND, May 1. An indication that import restriction as it now existed would not be a permanent feature of New Zealand s economy, but that a measure of control would be exercised for. the protection of Dominion manufacturers was given by the Minister of Finance, Mr Nash, in reply to a question whether New Zealand might look forward to the present measure of import control as a permanency. The Minister said this was not the case. He explained how depletion of sterlings funds had made import control necessary and said that out of import control there had arisen another need, that of providing as far as possible in New Zealand goods previously being imported. When sterling funds had been built up some measure of relaxation of the restrictions would be possible. "To the extent that we induce people to put plant and equipment to work to produce goods previously shipped to New Zealand we have to think of them before any changes are made." said Mr Nash. He added that whatever procedure would be followed to reduce friction abroad that might have been caused by the restrictions would be followed without in any way sacrificing local-manufacturers.