27 Sep 1977
Page 1
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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Sep 27, 1977
Page
1
Government published ACT Territorial Accounts showing a substantially reduced deficit in State type operations for 1975-1976. Two alternatives on basic and land development costs detail deficits shrinking from 60.33 to 46.75 million and from 60.25 to 46.38 million respectively, amid higher overall expenditures and grant adjustments.
The Canberra Times runs a Pick a Day Give-away this week with a $2000 prize pool. A $250 coupon on page 8 can double to $500 if home delivery is active. Fill and drop tickets at the newsagent or Mort Street office. boxes close at 4.30 pm and 6 pm. Draws occur the same day on CTC-TV late news, with two more coupons published on Days known to the paper.
Sir Mark Oliphant told a BHP energy symposium that international uranium safeguards against weapon use are worthless on paper. Warwick Bracken reports. John Fairfax Ltd posts a 20.4 percent rise in net profit to 7.07 million for year to June 26. Andrew Cowan leads London to Sydney rally amid a misstep.
Reserve Bank figures show overseas reserves fell just over $70 million in the week ending last Wednesday, bringing three week September outflow to about $280 million. Gold and foreign exchange total $2,468 million on September 2, with $222 million net proceeds from a $250 million US-Eurodollar bond issue included in September 21 counts.
Labor spokesman for economic affairs Mr Hayden challenged the dollar’s international standing, while Acting Treasurer Mr Robinson accused him of deliberate public comments on the currency. Robinson said Hayden used television to sow doubt about the Australian currency and warned of capital outflow and economic damage for political gain.
Prime Minister Fraser rejected Hayden’s claim of a national credit squeeze and hinted the government was seeking overseas loans around 830 to 850 million dollars, stressing a credit squeeze was not inevitable. He criticized Hayden’s remarks as irresponsible and said money supply remained under control. Deputy Governor Sanders noted internal bank memos are routinely revised and circulated.
A Tasmanian Liberal backbencher said many colleagues oppose a December general election. Government officials signalled December 10 as the target date with a campaign to start November 21 for Prime Minister Fraser to tour. Liberal MP Burr urged against December polls while Democrat leader Chipp signalled readiness for a December 10 vote.
Reginald Ernest Kennedy former 2/17 Battalion 9th Division marked 31 years with the ACT Police as he became commissioner at midnight. The force now exceeds 530 officers and is set for expansion to cover a renewed diplomatic guard role. Deputy commissioner is J A Johnson. Minister Staley praised internal promotion and past leadership by R A Wilson.
Sydney reports the Broken Hill City Council suspended Noel Latham for a second time amid ongoing friction with workers at the engineers depot who refused to work with him since his reinstatement in June. A special meeting followed walkouts, with Latham seeking an inquiry under Section 99 before a possible dismissal and compensation terms.
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