DOLLAR IMPORT CUTS
INCREASED PRICES TO PUBLIC FEDERAL INDUSTRIAL LEADERS’ OPINION Rec. 9.30 p.m. SYDNEY, Dec. 9. Industrial leaders to-day predicted that the inevitable result of the latest dollar import cuts would be increased prices to the public. The opinion in most industries effected by the Federal Government’s dollar saving measures was that there would be no immediate effect on employment. The first commodity likely to be effected by the price rise is petrol, which may be followed by tobacco and cigarettes. “ The newspapers have made the greatest individual contribution to dollar savings,” said Mr Eric Kenedy, president of the Australian Newspaper Proprietors’ Association. “ The announced restriction means that the original licence to import 175,000 tons of newsprint in 1948 has been reduced to 35,000. This represents a reduction of 20,000,000 dollars. The most severely hit of all will be the large metropolitan dailies, which use more than 500 tons of newsprint yearly and which will suffer a cut of 57 per cent.”
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Otago Daily Times, Issue 26640, 10 December 1947, Page 5
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163DOLLAR IMPORT CUTS Otago Daily Times, Issue 26640, 10 December 1947, Page 5
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