NEW CUTS BY AUSTRALIA

Press, Volume LXXXIII, Issue 25362, 9 December 1947, Page 7

NEW CUTS BY AUSTRALIA

Dollar Imports Restricted CARS, NEWSPRINT, PETROL, FILMS (N.M. Press Association—Copyright) (Rqc. 1 a.m ) CANBERRA, Dec. 8. The Prime Minister of Australia (Mr Chlfley) announced to-night that after g full review of the dollar position the Cabinet had decided that imports of motor vehicle chassis from North America would be limited to £9,000,000 worth for the 18 months’ period ending on' June 30, 1949. Of this only £3,000,000 would be permitted importation before June 30, 1948. An interdepartmental committee, on which industry would be represented, would be responsible for recommending the allocation of the total among the various makes and models of chassis. Mr Chifloy said that American tobacco leaf purchases were already made for the current year. Reductions would therefore not be effective until the 1948-49 year. Imports in that year would be reduced about 50 per cent.

The total consumption of Australian and imported newsprint was fixed at 90,000 tons annually from January I, making an average cut on pre-war consumption of hl per cent. Petrol would be reduced a further 10 per cent. Film companies’ remittances would be limited to 50 per cent, of the base year quota; the remainder would be retained in Australia.

Mr Chifley said that total imports frpm the United States and Canada would be about £90.000.000 in 194748, compared with actual imports of just over £60,000,000 in 1946-47. However, the measures taken by the Government would reduce the importation rate in 1948-49 to one practicable in the light of the assessment of the dollar situation at present available. The Minister of Commerce (Mr R. T. Pollard) was also authorised, within the framework of existing import controls, to divert the greater proportion of Australian-produced goods to the dollar market. It was recognised that the possibilities here were limited because of existing commitments.