Timber Industry Supports Common Currency with Oz

PRESS RELEASE BY
New Zealand Timber Industry Federation

Timber Industry Supports Common Currency with Australia

“New Zealand Timber Industry Federation President, Howard Tonge, strongly supports the Prime Minister’s consideration of a common currency with Australia.

“Exporting timber has become more about gambling on the currency than actually doing the business.

”Currency certainty, at least across the Tasman, will bring enormous benefits making New Zealand much more attractive to new investment.

“It will impose external fiscal disciplines on the government, which is not a bad thing.

“Our export sector is far too important for New Zealand to continue to subject it to the exchange rate volatility so often associated with small country currencies.

“It’s time to put aside our petty parochialism and small man syndrome. If it was good enough for the powerful German export economy to give away its own currency so it should be for New Zealand.

“We could not afford to hitch ourselves to the US dollar, but a common currency with Australia is a good start.

ends

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