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Industries Assistance Commission interim report on bench or pedestal drilling machines belt driven pulley operated (non-power fed)



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PRESS RELEASE 77/150 BACA .

INDUSTRIES ASSISTANCE COMMISSION INTERIM REPORT ON BENCH OR PEDESTAL DRILLING MACHINES BELT DRIVEN PULLEY OPERATED (NON­ __________________________ POWER FED)_____________________________

■ (Joint statement by the Minister for Industry and Commerce, Senator Robert Cotton, and the Minister ■ for Business and Consumer Affairs, Mr Wal. Fife)

The Minister for Industry and Commerce, Senator Robert

Cotton and the Minister for Business and Consumer Affairs,

Mr Wal. Fife, today announced the Government's intention to provide

assistance of a temporary nature for bench or pedestal drilling

machines after the end of 1977. Existing tariff quotas would be

replaced by bounty assistance payable on bench or pedestal drilling

machines produced, sold and used in Australia on and from 1 January

1978. The enabling legislation would be introduced into the

Parliament as soon as possible and bounty payments would be

made retrospective to 1 January 1978.

The Ministers said that the Government's decision .

followed receipt of the Industries Assistance Commission Interim

Report of 30 September 1977 on Bench or Pedestal Drilling

Machines Belt Driven Pulley Operated (Non-Power Fed).

The Ministers commented that the Commission found that to

provide assistance of a temporary nature by means of bounty was . .

appropriate,and that it would enable local manufacturers to maintain

production and employment in the face of competition from 'low priced

imports until a decision is taken by the Government on the level of ]or

term assistance to apply to the machine tools industry generally.

The Ministers emphasised that the bounty assistance was ■

of a holding nature only. Any decision on long-term assistance

for the industry will be taken after the Government has received

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the Industries Assistance Commission Report on the metal

working machine tools industry requested by 31 December 1977.

The proposed legislation would provide for bounty at

the level and largely in accordance with the terms and conditions

of the existing Metal Working Machine Tools Bounty Act 1972.

. . Copies of the Commission's interim report will be

available at Australian Government Publishing Service retail

bookshops in each of the capital cities in the near future.

CANBERRA, A.C.T.

16. November 1977