15 FEBRUARY THE NEW ZEALAND GAZETTE 291

Honourable Members, it is the Government’s intention to provide
the economic climate necessary for New Zealand to achieve a more
satisfactory rate of economic growth and at the same time bring
about a better distribution of goods and services. Ministers will
introduce for your consideration fiscal and other incentives designed
to encourage greater production by all sections of the community.
The Government recognises the key role played by investment in the
process of economic development and attaches considerable importance
to the need to raise the overall level of community savings. Appro-
priate encouragement will be given. Ministers recognise that the will
to save and therefore the ability to invest is threatened by inflation.
The Government is determined to restrain cost and price increases.
Action already taken includes the establishment of Rent Appeal
Boards, a freeze on Government charges for bulk power, an under-
taking not to increase postal and telegraph charges or railway freight
rates, and the stabilisation of consumer wool prices.

Ministers intend to strengthen the Price Stabilisation Regulations and
will undertake a comprehensive evaluation of price control policy.
A Bill will be submitted for your consideration which will replace
the Rent Review Regulations and provide by statute the necessary
protection for tenants against the activities of unreasonable landlords.
Amendments to consumer protection and trade practices legislation
will be placed before you. You will be asked to consider a Bill to
control mergers, takeovers, and monopolies.

An amendment to the Reserve Bank Act is proposed to strengthen
control over financial institutions and the creation of credit. It will
also provide for some consolidation of existing banking legislation.

Honourable Members, the Government recognises that good indus-
trial relations are essential to a prosperous and happy society. It
believes that all people, wherever they work, desire a sense of purpose
and the opportunity for achievement. Many are employed in
uninteresting and monotonously repetitive tasks. The Government
believes that more account must be taken of human considerations
in industrial relations and the legislation which it will place before
you will have this as a primary objective.

A number of amendments to the Industrial Relations Bill, which is
at present before a Select Committee, will be submitted for your
consideration. These will include provisions to ensure that workers
receive a just return from increases in production and improvements
in productivity. Provision will be made for the adequate recognition
of skills and for the investigation of profit sharing and the develop-
ment of productive bargaining.

A Bill will be introduced to amend the Annual Holidays Act to
ensure, for all workers, a minimum of 3 weeks’ annual holiday.

The Government has taken urgent action to combat unemployment,
particularly for school leavers and young workers. Regions where
this has been put into effect include the West Coast and Whangarei.
It has also acted to improve the supply of skilled labour for the
building industry and it will encourage the development of training
schemes for workers of all levels of skill throughout industry. You
will be asked to consider legislation to ensure that workers who have
been displaced as a result of industrial change receive both com-
pensation and the opportunity to acquire new skills.