LOOSENING THE REINS ON PRICE LEVELS
Press Assn.-
By Telegraph
■Copyright
Iieceiv.ed Tuesday, 8.0 p.m. CANBERRA, April 8. The fiovemment has finally abandoiaec] its wartime .-and jmme- * diate postw.ar policy of attemptmg to hold priees :at 1942 levels. ^ A constantly risiiig price level is -now being permitted' and. it was officiaTly stated today that further rises ar.e inevitable. Mounting costs in industry, prineipally dne to- w-ag-e increases, are r-esponsible for the present upward move. Informed circles believe that the Commonwealth is not likely ,to adopt a. suggestlon by tlie Gpp.ositi.on leader, Mr. Me-nzies, that price control shpnld' be ! abolished. Th-e Government is using tax eoneessions to .assist ; offset the rise in prices. Mr., Chifley has told Cabinet .that the next Budget will prdyjde for further saies tax .cuts of £8., 500, 000 yearly, representing a cnt of 25 per cent on enrr.ent estimates. . * .
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Chronicle (Levin), 9 April 1947, Page 5
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143LOOSENING THE REINS ON PRICE LEVELS Chronicle (Levin), 9 April 1947, Page 5
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