21 JUNE

THE NEW ZEALAND GAZETTE

imports and the lower prices ruling for practically all exports, the
normal seasonal recovery in overseas funds during the first half of the
calendar year did not occur. The depressed state of the London butter
market continues to be a matter of the gravest concern. My Govern-
ment has consistently pressed New Zealand's interests by
representations to the United Kingdom and to the butter-exporting
countries as well as in the appropriate international agencies.

To meet these economic problems it has been necessary to intensify
measures to restrain expenditure on imports and to take steps to meet
the deficit in New Zealand's external financial transactions. A loan of
£20 million was raised in London in May.

My Government has lodged formal applications to join the Inter-
national Monetary Fund, the International Bank for Reconstruction
and Development, and the International Finance Corporation. If the
current negotiations lead to the offer of acceptable terms for member-
ship, a Bill enabling New Zealand to join will be submitted for your
consideration. A White Paper will shortly be presented to you in order
that full information may be available before the matter is debated in
this House and a final decision made.

To assist in the consideration of the broader aspects of economic
policy, and to foster a wider public appreciation of the issues involved,
a Monetary and Economic Council has been appointed. You will be
asked to consider legislation to establish the Council on a permanent
basis.

Estimates of expenditure for the coming year, together with related
financial proposals, will be submitted to you. A Committee is examining
ways to simplify the public accounts.

You will be asked to consider legislation providing for a new Customs
Tariff to become operative on the same date as the 1962 Import
Licensing Schedule. This Tariff will be the basic form of protection for
efficient New Zealand industries. It will be supplemented as necessary
by import licensing. In future, Orders in Council amending the Tariff
are to be subject to ratification by Parliament. A Bill to establish a Tariff
and Development Board to advise my Ministers on matters relating
to Customs duties and import licensing will be submitted to you. It is
proposed to set up a Manufacturing Industries Advisory Council to
assist in the consideration of other problems of industrial development.
You will also be asked to consider an amendment to the Trade Practices
legislation and a Motor Spirits Duty Bill.

My Ministers are convinced that an assured supply of electric power
is essential for the steady expansion of industry. Development plans have
accordingly been reviewed and measures approved for the integration of
the resources of both Islands so that, at all times and in any part of the
country, an adequate supply will be available.

Negotiations conducted by my Ministers have ensured that the natural
flora and fauna will have the fullest protection in the development of
the aluminium industry in the South Island. A Bill will be presented to
you to establish a Nature Conservation Council to act as the focal point
for the views of all interested organisations and to provide coordinated
advice on scientific and technical questions.

It is the policy of my Government to achieve the maximum degree of
economy and efficiency in transport by rail, road, sea, and air. To allow
the customer a greater freedom of choice, controls will be relaxed
wherever this is possible without detriment to the public interest.
Restrictions on the cartage of livestock in competition with the railways
are to be completely removed; the limit of 30 miles on the carriage
of certain goods by road is being increased to 40 miles.

The Dunedin Airport at Momona is nearing completion and fast
progress has been made in the construction of the new international
airport at Mangere, Auckland. Under an agreement concluded by
my Government with Australia, Tasman Empire Airways is to become
a wholly New Zealand owned airline with rights to operate to and
beyond Australia. Its services will expand in the national interest as
traffic develops.