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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jun 21, 1973
Page
10
The bulletin records mixed mining stock activity with several price movements. Notable shifts include AMATIL and AMATEE rising or steady, Poseidon and GMIK moving, and overall trading in a low volume, fluctuating market as analysts note volatility and unconfirmed gains across multiple miners.
Sydney stock prices moved modestly as trading opened on a volatile day. Investors weighed early gains against lingering uncertainty in markets, with finance houses and retailers showing mixed responses to evolving economic data.
ACIU criticises the Prices Justification Tribunal in a submission to the Federal Cabinet economic sub committee. The document argues reform to ease price rises and expand inquiry into sectoral productivity, while noting the need to convince unions of retraining measures and a broader study of material efficiency.
The Australian Chamber of Commerce urged the government to extend the proposed sound investment program over a longer period, arguing a shorter deadline would unduly favor public spending over private resources. It called for a comprehensive approach ensuring all government program avenues are explored and private investment remains essential.
The Australian Council of Retailers pressed wage inflation concerns as Prime Minister White and the Economic Sub-Committee discussed price controls. They warned controls may slow industrial strength and investment, raise unemployment, and harm new product development, arguing retail competition remains the effective brake on prices.
Consumer groups urge the government to levy a 4 tax on all advertising to fund a National Commission for Consumer Affairs. The submission calls for an independent body answerable to the minister, with initial setup costs around 250000 and projected annual revenue exceeding 4 million. Organizations backing the plan include the Australian Consumers Association and the National Council of Consumer Action Movement.
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