POST-WAR TRADE

Wairarapa Times-Age, 19 July 1943, Page 3

POST-WAR TRADE

AUSTRALIAN MINISTER’S VIEW ACTION BY LEADING NATIONS. ALTERNATIVE TO EXPORT SUBSIDIES. (Bv Telegraph—Press Association—Copyright) SYDNEY, July 17. Unless the leading nations of the world completely changed their economy systems, Australia would be compelled to subsidise exports after the war, said the Federal Minister of Commerce (Mr Scully). The Minister added that the Commonwealth was trying to ensure that producers secured at least the cost of production. 1 “It is obviously impossible for us to increase prices and still attempt to sell in overseas markets at enhanced values,” he said. “We will have to face an extension of the principle of subsidies after the war, to meet competition and provide an outlet for our stimulated production.” Mi’ Scully said that wool had been embraced in the price fixture and its solvency maintained. Britain and America were both likely to have big reserves after the war and for that reason he had called a conference of the wool-growers of New Zealand,. South Africa and Australia to discuss postwar marketing. ‘.‘l consider it would be fatal if the wool industry reverted to the open market system after the war,” declared the Minister. “I believe the producers of all three Dominions will subscribe to that viewpoint.”