Word: zealand
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Whatever their sympathies for Britain's financial plight, her allies in the Far East were troubled by the new policy. The U.S., Australia and New Zealand are worried that they will have to assume the obligations that Britain is abandoning. President Johnson seems to believe that the British can be dissuaded from a headlong retreat. He said that he was "very hopeful that the British would maintain their interest in that part of the world." Secretary of State Rusk publicly regretted Britain's decision, but he warned pointedly that aggressors in Asia "should take no comfort" from...
...most complete welfare state in the more or less capitalistic world is having economic trouble. Protest marchers with banners ("We Demand Guaranteed Employment") were out demonstrating in cities and towns throughout New Zealand last week. So far, only some 6,600 people (out of a labor base of 1,000,000) are looking for work, but to New Zealanders, who had known no unemployment for decades, this was a matter for deep concern. Union leaders darkly predicted that there would be 20,000 jobless before long...
...artificially high wool price that New Zealand maintains with its vast government price-support scheme is mostly to blame for the country's present plight. Last season the government wool commission, which protects domestic sheepmen, had to buy and store 650,000 bales, a third of the total output, at 47? per lb.-80 higher than the average open-market price for Argentine wool. Buyers from abroad were unwilling to pay the New Zealand price, which they considered outrageous...
Prime Minister Keith J. Holyoake's Cabinet decided on drastic measures to recoup some of the loss. These include ending state subsidies on such staples as bread and butter, longtime features of New Zealand's elaborate welfare system. Taxes on gasoline, tobacco and liquor have gone up. The nation's imports and bank loans have been curtailed, and down payments for installment buying increased...
...Zealand...