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Tuesday, 18 September 1973
Page: 1129

Mr LAMB (LA TROBE, VICTORIA) - Has the attention of the Treasurer been drawn to a statement attributed to the visiting former British Chancellor of the Exchequer, Mr Roy Jenkins, that inflation could be attacked effectively through a prices policy without necessarily having statutory control over wages? Can the Treasurer indicate whether Australia could expect a far lower rate of inflation such as that achieved by the Stafford Cripps policy in 1949 through statutory powers over prices and voluntary controls on wages?

Mr CREAN - I have not seen the statement attributed to Mr Jenkins but it raises some interesting possibilities and shows that this question of grappling with inflation is not any simple problem with any one solution. I am prepared to look at the suggestions.

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