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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Dec 07, 1973
Page
7
The readable parts show a garbled note with names and a date portion suggesting a brief local notice. It references individuals and a possible event, but the broken text prevents clear identification of title, date, or venue. Further restoration would be required for a precise summary.
The article discusses a referendum proposal giving the federal government broad control over prices beyond food and consumer goods. It argues such powers would affect all buyers, including humble households, and would shift price determination away from private enterprise, raising concerns about who bears the costs.
A group of economists from major universities urged a no vote in Saturday's referendum on income and prices. They oppose a separate group of 16 proponents backing a yes vote, signaling a contentious stance on the issue.
October buoyancy appeared in housing finance from permanent building societies and savings banks yet lending acuity remained lowered. Savings banks approved 51126 million in October with 71.6 million in October prior year. Building societies approved 583.9 million in October versus 112 million prior year with monthly average 379.7 million in September quarter. Census and Statistics Bureau published October figures yesterday.
A National Press Club address by Teibuml and Me Whitham flags a tribunal to review pricing beyond court challenge. They warn price controls risk shortages and strikes, urging careful state balance while inflation defies public spending cuts.
The Bureau of Census and Statistics reports a strong uptick in average weekly earnings for the September quarter, rising from $7.60 to a higher level, with seasonally adjusted terms showing continued growth since mid 1972. The earnings gains outpace June quarter figures and align with rising consumer price index trends, reflecting broader wage growth across sectors.
A government spokesman announced that the Labour conference scheduled for Monday in Canberra will be postponed for a day and held on Tuesday and Wednesday at the Canberra hotel. The Labour Ministry said the move is to address the ongoing situation and ensure security and proper arrangements.
The AMP Society of Australia joins a venture to drill offshore with the ship Southern Cross under construction at Brisbane. Partners include Santa Fe Pomensy, a US firm, and Drilling and Explora vom Ltd. The plan targets a new, semi-stationary drilling operation and offshore potential.
Australia remains Japan's top export market as wool beef and iron ore show mixed gains. Exports for July and August 1972 rose overall despite currency swings, with wool reaching 196.4 million and beef up in volume, while iron ore prices fell though volumes rose. Sharp currency effects temper prospects as oil supplies tighten and price volatility continues.
The Vehicle Builders Employers Federation accuses Ford, General Motors Holden and Chrysler of a stranglehold on the Australian car industry. It calls on the federal government to stop discrimination in favour of these groups, arguing consumer costs rise and safety declines. The federation cites higher prices, inferior working conditions, and reduced competition as proof of the need for policy change.
The Fibre Review by the Bureau of Agricultural Economics reports a strong rise in demand for all textile fibres in 1972-73, with wool production dropping from the 1968-69 peak and prices reaching highs not seen since 1950. Wool stocks fell sharply as supply shrank while manmade fibres grew, pushing prices upward.
Australian Metal Tradex Export Group said yesterday it fully supports the Government’s proposal for an export bank. M. W. 5. Aun ten stated the group reaffirms support for the bank, noting it would provide long term and competitive interest finance to exporters.
Canberra report quotes the Australian brandy industry as complacent and undeserving of more protection. The Board warns removal of export concessions could worsen social consequences. It notes rising production and oversupply, with 1954 parity concessions blamed for boosting output beyond demand.
Treasurer Mr Crean said the Staveramer would study removing the 3 percent sales tax on goods when freight is part of the selling price. He noted wholesale and vendor prices vary by seller and location, and examined taxing freight elements to curb unfairness. He spoke in response to Mr Collard in the House of Representatives.
Freshly chilled meat exports face loss of export incentives as a government amendment moved by Senator Murthy clears the Senate. The move, praised by Trade Minister Calms, challenges a Prime Minister Whitlam ruling and signals potential withdrawal of incentives for the 15 meat export lines, with Senate reply signaling ongoing policy shifts.
Unions raise concerns to Prime Minister Whitlam over delays to an annual bonus for Commonwealth Public Servants. A telegram from union leaders urged government clarity, while the Public Service Board had offered a 17.9 percent annual leave gain last month, with unions pushing for a timely government decision.
A parliamentary committee report condemns price fixing by meatmeal manufacturers and calls for restrictive trade practice action. It urges the attorney general to refer the matter to the Commissioner of Trade Practices and to regulate meatmeal exports to stabilize domestic prices amid rising world costs. The inquiry notes price surges of up to 200 percent tied to export price increases and alleged supplier withholding at times.
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