STABILISING OF WOOL PRICES
AUSTRALIAN SCHEME REJECTED
(Rec. 11 p.m.) CANBERRA, Aug. 24. Australian woolgrowers have rejected the Federal Government's scheme to stabilise wool prices. The scheme was rejected in a ballot which closed yesterday. The Government has been levying a tax of 71 per cent, on wool sold, in anticipation of the scheme being approved. and has collected £45.000.000. This money was to have been available to buy in Australian wool which ’ailed to reach a certain price. The scheme was to operate for five years. Legislation introduced last year provided that, in the event of the scheme being rejected by the wool growers, the money levied by the Government would have to be paid back.
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Bibliographic details
Press, Volume LXXXVII, Issue 26509, 25 August 1951, Page 7
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117STABILISING OF WOOL PRICES Press, Volume LXXXVII, Issue 26509, 25 August 1951, Page 7
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