PRICE CONTROL

Wairarapa Times-Age, 14 November 1939, Page 5

PRICE CONTROL

WORK OF INVESTIGATION TRIBUNAL. COMMENDED BY MINISTER. (By Telegraph—Press Association.) DUNEDIN, November 13. An emphatic statement that the price investigation tribunal was doing valuable work and that both traders and consumers could rest assured that their best interests would be served was .made by the Minister of Industries and Commerce. Mr Sullivan, in an interview. The Minister added that the price stabilisation regulations had saved consumers thousands of pounds by ensuring that stocks in hand would not be sold at greatly enhanced prices because of the possibility that replacement costs would be greater. "The latest figures available from the census and statistics office reveal quite clearly," Mr Sullivan said, "that while the outbreak of war. according to overseas exchanges, has had the effect of creating steep rises in prices for commodities, the action of the Government in introducing price stabilization regulations on September 1 last lias had the effect of keeping prices in control. The all groups index in August stood at 995 points, and at the end of Septcmbe the index figure was still 995. Another very interesting revelation from reports 1 have received is that while the all groups index for wholesale prices was 1084 in August, the figures for September shows a slight decrease to 1077 points. "These figures demonstrate that the trend of prices has not been sharply upward so far as New Zealand is concerned. "Tp meet the situation created by the increase of prices overseas, the Price Investigation Tribunal has power to permit an increase in selling price to equate the increase in actual cost." the Minister added. "What the tribunal will not do. however, is permit the raising of prices where investigation shows that the increase is not justified. "I am in closest touch with the activities of the tribunal and 1 can assure the people that it is doing valuable work. That there have been some delays in the granting of permission to make increases in prices (nay well be true, but in such instances the delay has been created by the necessity for a full investigation into the particular'; features connected with the application. "I can emphatically state that the tribunal is performing a very useful function. Consumers may rest assured that prices will not be allowed to reach exploitation levels, while traders may be sure that the added costs of supplies will be considered sympathetically and will) understanding when applications are macle for permission to increase prices.” I