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Prices and incomes restraint



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PRICES AND INCOMES RESTRAINT

The Heads of the Commonwealth and all State Governments,

meeting Ίη Premiers’ Conference in Canberra today, .

unanimously called for a three month halt in. .price and

wage increases. They agreed that such restraint was

urgently needed if Australia is to overcome its

current economic problems. .

It was agreed that all Heads of Governments will approach

employer and professional organisations and put to them

the proposal that their membership should voluntarily

commit themselves to a pause for a period of 3 months . .

from increases in the prices of their goods and services.

At the same time, all Heads of Governments will be making an

approach to the A.C.T.U. and other employee organisations

to seek a voluntary commitment to a 3 months pause from

wage increases. ; .

Governments would not expect either the business organisations

or the union organisations to agree to such voluntary restraint

arrangements without agreement by the others.

Immediately following agreement to the proposal for a :

voluntary general pause from increases in prices and incomes

approaches would be made -to the Arbitration Commission and the

Prices Justification Tribunal for the implementation of the

general pause.

Governments would also use their influence and the. , . powers

available to them towards achieving a successful outcome.

Governments will commit themselves to not increasing their

own charges during the period of the pause. Local Government

will be expected to^iikewise.

All Heads of Governments commit themselves to work for this

voluntary pause. Upon its achievement a further conference

of Keadn of Government will be held to consider what further

steps 'should be taken. . : .

The Heads of Governments called on all members of the

Australian community to give full support to this vital

endeavour to help overcome inflation. .

J.M. Fraser Prime Minister '

Neville Wran Premier of New South Wales

R.J. Hamer Premier of Victoria

J. Bjelke-Petersen Premier of Queensland . .

D.A. Dunstan Premier of South Australia . .

Sir Charles Court Premier of "Western Australia ' - .

W.A. Neilson Premier of Tasmania .

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Canberra 13 April 1977