Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Tuesday, 30 May 1972
Page: 2308

Senator POKE asked the Minister repre senting the Minister for Primary Industry, upon notice:

Is there any foundation in a report currently being circulated to the effect that the Government is intending to continue the operation of the wool reserve price scheme which was originally intended to expire in June this year; if so, (a) is it likely that legislation to establish the new Australian Wool Authority will be brought before Parliament before the winter recess, (b) is the Government likely to make such a far-reaching decision before they have received the report from the Randall Committee on future plans for the wool industry, and (c) what amount of money is envisaged to be spent on the continuation of the wool reserve price scheme.

Senator DRAKE-BROCKMAN (Western Australia) (Minister for Air) The Minister for Primary Industry has provided the following answer to the honourable senator's question:

The reserve price scheme for wool which is operated by the Australian Wool Commission does not expire in June 1972. The honourable senator appears to have confused the reserve price scheme, which is designed to mitigate the instability of auction prices, with the wool deficiency payments scheme which was introduced for one year to supplement a grower's return from wool to a level equivalent to an average of 79.37 c/kg for the entire Australian wool clip. Under current legislation the deficiency payments scheme is due to expire on 30th June 1972.

In his statement of 2nd May 1972 about the wool marketing proposals submitted by the Australian Wool Industry Conference, the Prime Minister announced that the Government will be considering the Randall Committee report in conjunction with these proposals before the commencement of the 1972-73 wool selling season and advising the industry of its decision.

Suggest corrections