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Referendum on prices



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P A R L I A M E N T O F A U S T R A L I A

H O U S E O F R E P R E S E N T A T I V E S

COM M ONW EALTH PA RLIA M EN T O F F IC E S 4 0 0 F U N D E R S S T R E E T .

M E L B O U R N E . VICTORIA 3 0 0 0 .

TEL. 6 2 2521 .

/ o p ­

p r e s s RELEASE

THE HON. MALCOLM FRASER, M.P. 16th September, 1973

In^ commenting today on the Prime Minister’s sudden .

announcement that there will be a referendum to get price _ control for the Commonwealth Government, Malcolm Fraser, the Member for Wannon, said that growth, enterprise and

private initiative would be inhibited by rigid'price

controls if established right across the Australian community. . ,

He said, it was hard to understand the inconsistency of

Mr. Whitlam in first opposing his Party’s moves for price control and now announcing such a referendum.

""Malcolm Fraser"" weriT' on "to" say""that“the"argumerit that .

price control was successful during the war and would be now is utter nonsense and meaningless. At that time, price control was accompanied by direction of labour, by

wage control, by an absolute lack of consumer goods in the shops, by rationing of food and clothing, to mention a few differences.

The very fact that the Labor Government, after the War,

wanted to keep on the ramifications of so many of these

controls resulted in the defeat of that Government in 1949.

•Prices have only got out of control because this Government

is utterly refusing to use the weapons available to control

the economy arid it is since this Government has come into

power that inflation has run absolutely wild," he said.

"It v/as running at a rate of a little over 4% when v/e . .

lost Government and it is now running at a rate of 20% a year.

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