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Tuesday, 14 October 1975
Page: 2093

Mr Lloyd (MURRAY, VICTORIA) asked the Minister for Overseas Trade the following question, upon notice:

Has New Zealand maintained the export price for skim milk powder in terms of United States dollars, as promised, since the 1 5 per cent devaluation.

Mr Crean - The answer to the honourable member's question is as follows:

At the time of the New Zealand devaluation Mr Rowling, the New Zealand Prime Minister, stated that 'There must be a sizeable transfer of incomes back to farming. A devaluation is the simplest and quickest way to do this . . .'. While this does not constitute a 'promise', there is the implication that New Zealand will attempt to maintain its export prices in terms of United States dollars for farm products. As far as I am aware, New Zealand has done this in the case of skim milk powder.

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