STATEMENT BY MR FADDEN
BRITAIN’S DECISION “NO SURPRISE”
(Rec. 9 p.m.) CANBERRA, May 30. Replying to a question in the Australian House of Representatives, the Federal Treasurer (Mr A. W. Fadden) said that the decision by the United Kingdom Government to end petrol rationing was no surprise to him, because he had known for some time that there was a surplus of sterling area petrol which could be obtained without spending dollars.
Mr Fadden added that rationing had been lifted in Australia with full recognition of the dollar position. The Leader of the Opposition (Mr J. B. Chifley) said that the United Kingdom had concluded an agreement with American oil companies, under which the companies agreed to supply petrol without the payment of dollars. Britain, in return, was supplying tankers and 889 other commodities. Negotiations for this agreement had been proceeding for the last 12 months. Mr Fadden replied: “On the basis of that information, you are better informed than I am as Treasurer.”
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Press, Volume LXXXVI, Issue 26126, 31 May 1950, Page 7
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164STATEMENT BY MR FADDEN Press, Volume LXXXVI, Issue 26126, 31 May 1950, Page 7
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