Angry reaction by BHP to policy

Press, 1 September 1982, Page 24

Angry reaction by BHP to policy

PA Canberra BHP has reacted angrily to the Federal Government rejection of its pleas for increased protection against steel imports. The Australian Government has decided to give temporary assistance to BHP and the acting Minister for Industry and Commerce (Mr Wai Fife) said that action would be taken to restrain import growth on hot and cold rolled steel. 1 "Tariff quotas would apply to allow individual importers to import at their 1981-82

levels at current duty rates, he said. "Imports above the quota level would be subject to an additional temporary duty of 150 per cent." However, BHP had been seeking quotas that would have limited hot rolled flat steel products to 10 per cent of the Australian market, cold rolled and coated products to 15 per cent and imports of pipes and tubes to 10 per cent. The Government delayed a decision on this matter while it, considered a report from the Temporary Assistance Authoritv.

About 2500 jobs have been lost through attrition in BHP's steel division during the past year, and the company warned that a similar number could be lost this year if it did not get the protection it wanted In a statement last night. the company said domestic and international market conditions were such that imports could now be expected to take an increased *: share of a shrinking Australian market for most steel products, with potentially damaging consequences for Australia's steel industry.