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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jul 19, 1973
Page
6
Government announces immediate tariff cuts by 24 percent across most duties excluding revenue items and anti dumping duties. Aimed at curbing inflation through higher import competition, the plan couples relief with an aid program for workers and firms affected, backed by a 25 million support package and a forthcoming budget paper release.
ACTU president Mr Hawke cautions that tariff reductions may curb inflation but worry unemployment. Business groups in Melbourne warn against harming manufacturing while Doohan and others hail lower consumer prices. NZ officials deem the move a potential shift in tariffs and some loss of comparative advantage, with overall cautious optimism.
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