A Further Question:

One thing that the newspaper reports to date have made quite clear is that, before Gear could be taken over by Borthwicks, approval would have to be obtained from thepage 2 Minister of Agriculture, who would be advised ed by the Meat Industry Authority and the Meat Board, and from the Minister of Finance, who would be adivsed by the Overseas Investment Commission. But, presuming that the management of Borthwicks is not stupid, it is reasonable to conject that they have already had in principle approval from the respective ministers that their application would succeed. This is obviously the case with the Minister of Finance, for Mr Muldoon has said that he knew of the proposal in advance, and that he supports it as a step towards the rationalisation of the meat industry.

This raises the very important question of how we are to be protected from monopoly and foreign control in our principal export industry, by the occurrence of such takeovers, when the Ministers who presumably protect us can be so effectively lobbied to support [unclear: th] these monopolies.