Banker urges Aust, control
NZPA-AAP Suva Failure to control the budget deficit, wage growth and the inflation t rate now would lock Aus- ' tralia into a long-term decline in living standards, Westpac Banking Corporation’s managing director, Mr Bob White, said. “The Australian economy is in for a rough ride ahead,” he told the inaugural dinner of the Fiji Australia Business Council. Mr White is president of the Business Council of Australia. He said he believed the Hawke Government was serious about the current situation “We have sought to live beyond our means and now we have to pay the price. “The solution is straightforward: we need the collective will to put it into place.
“We have to control our budget deficit and our wage growth in order to reduce drastically our inflation rate. 'Tn the short term our standard of living will fall, but a failure to act now will lock us into a continually declining standard of living for a long time to come.”
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Press, 23 July 1986, Page 38
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165Banker urges Aust, control Press, 23 July 1986, Page 38
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