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Tuesday, 10 November 1953

Mr WARD (EAST SYDNEY, NEW SOUTH WALES) - I ask the Prime Minister whether it is a fact that he has expressed agreement with the decision to abandon, and the reasons advanced by the Commonwealth Court .of Conciliation and Arbitration for abandoning, the practice followed in this country for very many years of adjusting the basic wage each quarter according to the rise or fall of the cost of living? If so, does the 'Government propose to take action to regulate profits and dividends on the basis of the ability of industry to pay, or is that practice to apply in respect of wages only?

Mr MENZIES - The question, of course is highly .argumentative. I have said, .and I. repeat, that the Commonwealth Court of Concilia tiwi and Arbitration has given its reasons for its (Incision-

Mr Haylen - The Prime Minister has stated that they were illuminating.

Mr MENZIES - I strongly suspect that *:lIn 'honorable member who intersected 'has not read the reasons. I have found them very illuminating. In any event, they represent the decision of an umpire. We stand for arbitration, and the decision of the umpire.

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