Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Devaluation



Download PDFDownload PDF

DEVALUATION

Mr Street stressed today the opportunities which

: ' dev a l u a t i o n .will provide for expansion of employment­

- v ;-T *rhe Government*® action will .remove wh a t has been one .of -

the critical uncertainties, in the - economic scene a n d . . . ..

increase, confidence to invest in · Aust r a l i a n . . Indus try, \. ’

This will be", particularly evident in industries w h i c h

. are import competing, as well as those which have export

potential. - These include m uch of our manufacturing

- - industry, as well as raining and rural sect o r s .

>

. The devaluation should, .moreover, stem the export of jobs

overseas, which has been all too evident in recent times.

This, too, has been one of the factors militating against

. recovery i n . employment opportunities» . . . . ..

. - '·â–  * \ ^ 1 -J· ^ · I ‘ ·-”·,'·· ' - * , , ~ - .

* " *- · · « ' ’ » ■ — - · - .·» - ^ · * -

However T~ I-should emphasise that t h e . gains flowing f rom- ;

the Government’s decision will be quickly eroded if wage .

increases, whether within the principles of industrial

. tribunals or outside them, were to continue as they have been

in recent months. ; S u c h ·increases could all too readily ·

blunt .the new edge which has-been given to investment^» - .

• " · φ *·^ - e ‘ 1 - ν'- - rr.'· ·. * ^ ' i , . . · - - . · s ' " f, -·Ï„ -

• · t — t A· ·*., ' . - ·» ™" . ^ ί . . . * * ' . ■ *

~ t · ‘ . ' *. · , ■

/ , :f v J .

MELBGtiRKE - 29 Nov 76 89/76 ..

eh