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Mr Hawke's inflation forecast



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Deputy Leader of the Opposition

NEWS RELEASE BY THE HON JOHN HOWARD MP D 1 5 /8 3

MR HAWKE * S INFLATION' FORECAST

Mi' Hawke’ s p r e d i c t i o n made l a s t n i g h t t h a t i n f l a t i o n

would be h a l v e d by e a r l y 1984 c a n o n l y p o s s i b l y b e

r e a l i s e d i f th e wage p a u s e r e m a i n s i n f o r c e a t l e a s t .

u n t i l t h e end o f t h i s y e a r .

In making t h a t s t a t e m e n t t h e P r im e M i n i s t e r was i n

f a c t r e p e a t i n g a p r e d i c t i o n I made o n e w eek b e f o r e

t h e l a s t e l e c t i o n .

T hat p r e d i c t i o n o f mine had b e e n b a s e d o n T r e a s u r y

a d v i c e t h e former go v e rn m e n t r e c e i v e d s h o r t l y b e f o r e

t h e e l e c t i o n , t h a t i n f l a t i o n c o u l d b e h a l v e d i n

1984 .

However, t h a t a d v i c e made i t c l e a r t h a t s u c h a n o u t c o m e

c o u l d o n l y be r e a l i s e d i f t h e w age p a u s e w e r e f u l l y

e f f e c t i v e ,

I t i s now q u i t e a p p a r e n t t h a t t h e G o v e r n m e n t w i l l s u p p o r t

a wage i n c r e a s e b e f o r e t h e en d o f 1 9 8 3 , t h u s b r i n g i n g

t h e wage pause t o an en d .

I f t h i s d o e s happen t h e Prim e M i n i s t e r ' s f o r e c a s t

w i l l n o t be r e a l i s e d , .

Canberra

22 A p r i l 1983

Pnrlinmt nt House, f/anherra, A .(AT 2 6 o o