Insulation Policy and Industrial Expansion in Australia
Robert W. Gill addressed Bank of New South Wales shareholders warning that central bank imports and external price movements shape private investment and domestic production. He urged coordinated monetary policy, while noting export income restoration will redirect resources to new production after a war.
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Payne Wool Report raises tension in Australian court
In Brisbane on Friday judges clash with Wool Advisory Commission head Mr Payne over wage reductions for shearers and station hands. Justice Webb criticizes Payne as partisan while noting the commission’s view on wages and production costs, and the impact on graziers and pastoralists.
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Payne Defends Wool Report In Australian Debate
Mr Payne challenges criticism by Mr Justice Webb of portions of the wool report. He claims to have heard hundreds of witnesses from employers and workers and says Webb would not view the evidence fairly. He says impartiality and fair dealing are essential, and disputes the television remarks about the wool inquiry. The discussion centers on the economic impact and the need for calm reflection amid the investigation.
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