Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Thursday, 1 December 1960

Mr OSBORNE (Evans) (Minister for Air) .- I move-

That the bill be now read a second time.

Earlier to-day, I introduced the Sulphuric Acid Bounty Bill (No. 2) 1960. In my speech introducing the bill I referred to the Government's obligations to producers of sulphuric acid and sulphur-bearing materials who had co-operated, or planned to co-operate, in the policy of production of sulphuric acid from indigenous sulphurbearing materials. I mentioned that the Government had adopted the Tariff Board's recommendations, contained in its report dated 20th June, 1960, on the Sulphuric Acid Bounty Act 1954-1959, for an extension of the bounty for a further five years and for different rates of bounty for acid and iron pyrites. The bill now before the House is designed to put into effect the board's proposals regarding iron pyrites.

The board proposed two alternative basic rates - £3 or £7 per ton of sulphur contained in the pyrites - either of which could be adopted by the Government in the light of what it considered to be its obligations to the producers concerned. The lower rate was based on the average disability of producers, the higher rate on the disability of the highest cost producer. As with sulphuric acid, the Government has adopted the lower rate. The basic rate is to be increased or decreased by the same amount to the nearest ls. as the landed duty free cost per ton of brimstone falls below or rises above £16. It is recognized that the disabilities of the iron pyrites producers vary with the cost of imported brimstone, and the adjustment of the basic rate will relate the bounty to the cost of brimstone.

Bounty will be restricted to those producers to whom the Government recognizes an obligation. Accordingly, the only recipients will be those producers of iron pyrites who have been in operation before the introduction of this bill. The rate of profit limitation, at 12± per cent., is the same as is provided for sulphuric acid under the current act and as proposed under the new Sulphuric Act Bounty Bill.

I commend the bill to honorable members.

Debate (on motion by Mr. Pollard) adjourned.

Suggest corrections