DOLLAR CUTS BY AUSTRALIA

Press, Volume LXXXIII, Issue 25363, 10 December 1947, Page 7

DOLLAR CUTS BY AUSTRALIA

'increase IN PRICES PREDICTED NEWSPAPERS SEVERELY AFFECTED (N.Z. Press Association—Copyright) (Rec. 9 p.m.) SYDNEY, December 9. industrial leaders in Sydney to-day predicted that toe inevitable result of toe latest dollar import cuts announped by Mr Chlfley would bg inweased prices to the public. The opinion in most of toe industries affected by toe Federal Government's dollar-savfng measures was that there be no immediate effect on emThe flriit commodity price likely to bp affected is that of petfol, which may be followed by tobacco and cigarettes. “The BPwSBBBers ha ve, made the greatest individual contribution to dollar saving," said Mr Eric Kennedy, president of toe Australian Newspaper Prenpietars Association. “The annoubeed restriction means that the original licence to import 175,000 tons of newsprint in 1048 has been reduced to represents a reduction of 20,000,000 dollars. The most severely bl- of all w iU he toe large metropolitan dailies, which use more than 500 tons of newsprint a year, and which will suffer a cut of 57 per cent"