CAGA head attacks policies at annual meeting
The chairman of Commercial and General Acceptance Ltd, Mr B. 5. D. Page, warned the Federal Government of higher interest rates and stifled competition from proposed finance industry legislation. He criticised monetary controls amid deficit financing and said fiscal controls are needed, noting overseas experience shows doubtful inflation effects. The treasurer Mr Crean announced legislation to regulate the finance industry next November, amid a climate of renewed revaluation.
MENTIONED IN THIS ARTICLE
Commercial and General Acceptance Ltd
B. 5. D. Page
Page
Merry
Mr Crean
Morcber
Rates Rise for Debenture Stock and Unsecured Notes
Commercial and General Acceptance Ltd and Mutual Acceptance Ltd announced higher interest on debenture stock and unsecured notes. CAGA said rates would rise to 9.8 percent on debenture stock four years and unsecured notes three years. Mutual Acceptance sets top rates at 9.0 percent for first charge debentures five years and unsecured notes three years, with 6.4 percent for cumulative first charge debenture stock five to 20 years.
MENTIONED IN THIS ARTICLE
Commercial and General Acceptance Ltd
Mutual Acceptance Ltd
CAGA
Wider role for new tariff body in Australia
The Bill to replace the Tariff Board with an Industries Assistance Commission was introduced in the House of Representatives. Prime Minister Whitlam said the move would allow public scrutiny of government aid decisions and extend the inquiry system to all Australian industries, aiming for independence and openness in long term industry assistance programs.
MENTIONED IN THIS ARTICLE
Tariff Board
Industries Assistance Commission
House of Representatives
Whitlam
Whitam
Thea
Mir Whitham
Extension to export aid scheme announced by Bowen
The Acting Minister for Overseas Trade Lionel Bowen said the government will extend the export aid scheme to manufacturers exporting goods hurt by the recent 5 percent revaluation of the dollar. Eligibility remains similar but with two changes: aid limited to 40 percent of price reductions caused by the revaluation and a maximum aid of 600 shillings per applicant for the period September 1 to June 30, 1974. No aid will be provided for sales after June 30, 1974.
MENTIONED IN THIS ARTICLE
Lionel Bowen
Bowen
McFadden
Mavis
Chery
Colim
Canberra Hospital
Colin
Keith Wilson
Patons Takeover of Sirdar Wool Australias Pty Ltd
The British controlled Coats Patons Group has agreed to pay about 1.2 million dollars for all issued capital of Sirdar Wool Australias Pty Ltd. Sirdar operates nationally and holds a large share of the higher priced yarn processing market, placing Patons in a dominant position in Australian wool processing.
MENTIONED IN THIS ARTICLE
Coats Patons Group
Coats Patons
Sirdar Wool Australias Pty Ltd
Sirdar
Cleckheaven
Illaweol
Ay, Lompelors
Sillaweol
Tord Vester
Exemptions Listed for TA Firms in Australian Gazette
The latest Australian Gazette lists Exemptions for General Motors Holden TA companies and several subsidiaries. Other firms named include Metters Building Products SA Pty Ltd, Elder Smith Goldsbrough Mort Ltd subsidiaries, Hi J Heinz Australia Ltd, Union Carbide Australia Ltd, and a Chemical Australia rd.
MENTIONED IN THIS ARTICLE
General Motors
Holden
Metters Building Products SA Pty Ltd
Elder Smith Goldsbrough Mort Ltd
Hi J Heinz Australia Ltd
Union ¢ Hide Australia Ltd
A Chemical (Australia
Inflation ignored by ACC warns of costly policy errors
The Australian Chamber of Commerce says the Government is failing to address root inflation causes. ACC president Williams argues wage demands must align with productivity and spending must be restrained. He warns against direct controls and urges productivity-led policies in public and private sectors.
MENTIONED IN THIS ARTICLE
Australia
Australian Chamber of Commerce
ACC
Me Williams
Williams
Bank warns on monetary policies and inflation risks
The Bank of New South Wales in its quarterly Review warns that the Budget will raise consumer demand and costs, modestly widening money supply. It notes higher welfare payments and excise duties will lift prices, boosting wage claims, while forecasting the Gov ernment may pursue stricter monetary policies as inflation fears persist amid brisk activity and full employment.
MENTIONED IN THIS ARTICLE
Bank of New South Wales
Aid Should Be Gift Not Loan, Says Crean at IMF World Bank
Australia’s Treasurer Crean urged rich nations to provide aid as grants rather than loans at the IMF World Bank meeting in Nairobi. He noted Australia’s aid is largely grant-based, with 0.61% of GNP in 1972 and a pledge to reach 0.7% official aid, stressing debt relief for poor countries and the need to expand their exports to demand finance.
MENTIONED IN THIS ARTICLE
Nairobi
Aap-Reuter
Mr Crean
Australia
World Bank
International Monetary Fund
Crean
South Africa Opposes IMF Reform Call for Gold's Central Role
South Africa at the IMF World Bank conference urged opposition to current reform proposals for the world monetary system. Finance Minister Nicolaas die Derichs highlighted that any inflation without restraint would undermine an international system and reiterated support for gold’s central role in global finance.
MENTIONED IN THIS ARTICLE
Nairobi
Aap-Reuter
South Africa
IMF
World Bank
Nicolaas Diederichs
International Financial Community
Also Mentioned on This Page
Anc
Mr Whitlam
Patons
Sirdar Wool
World Bank Meeting
Ganverra
S. Africa
Nick' S
Iene
Paragon Cafe
Swine Cafe
Pomcog
Madaghes Shopping
Mescoe
E Fairfat and Sone Ltd
Wr Town and Ire! Railway Sig
The
Coregreei Agency
Maiperee
Lederman
Milime
Collin Toot
Infooma Om Mewagrenn Sopam
Mnening Wiapers
Oman'a Dar
Pins Peupte
Oman
Walkebol
Belle and Electronica Australia
Weca
K Publishing
Fisher
Jenny
Geoff
James Russell
Carmel
Cam John
Pola
Christine
Kevin
Rachel Dee
Richardson
Margaret
Hennie
Julia Margaret
Katherine
Snowdon
Brian Thomas
Cathy
Dad
Warren
Maureen
Whefler
David
Marilyn
Bob
Fe Macalister
Hem Ween Speive Otte
Saay
Duck
Trown
Ronald Auctin
Mile Ph
Manuka Ary
Nellie
Doust
Albert
Kev
Jan
Rod
Mindlay
Gladya
Reg Whalan
Orvice
Atu Spm
Iliet Country Boy
Woden
Attut
Flynn
Northhourna Ave
Attlil
Simgle
Civic
Narrabundah
Griffiths Thrunfurn
Thetis Real Estate Pty Ltd
Thets Court
Manuka
Varralumla
Reg Payne
Red Hill
Aundry
Port
Central Heat
Oval
Allen Curtis & Poe Py Ltd
Watson
Dell Flanagan
Sedaitis John
Sepwi- E Eyre Chambers
Canberra
Kingston
Fairbridge Cres
Gan Ainslie
Mc Weston
Inturn
Mra L
Hackett
Mer
Dicksong
Dickson
Laure Scheele
Garema Arcade
3 Ciy
John Crisp
Perey
Mawson Furn
ATHAM
Thesluswry
Kong
Mewman
James Augustus Newman
Demestre Street
Yas
Beeve
Auguelme
Yau
Requet Donatham
Yau Hospital
AFDA
Canberra Avenue
Queanbeyan Flats
Dhe Town
Allen Curtis & Partners Pty Ltd
Monaro Street
Dan Pine
A.C.T. Electricity Authority
N.S.W
Coughy
H. A. Jones
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