GOODS AND SERVICES

Dominion, Volume 35, Issue 172, 17 April 1942, Page 5

GOODS AND SERVICES

Australian Commission Given Wide Powers CANBERRA, April 16. Regulations giving the Prices Commission blanket power Lu fix maximum prices for all goods and services except those specifically exempted have been gazetted. The object of the new regulations is not only to widen and tighten up price control, but also to enable the Commission to prevent black markets developing. The Prices Commission will follow the Government’s action by gazetting an order determining maximum prices for all goods and services except those exempted. Goods exempted are those controlled by the Commonwealth, a State, or au authority appointed by a State, livestock, poultry and perishable primary -products which are not already subject to price control. Services exempted are those supplied by the Commonwealth, a State, or any local governing body, such as a municipality, life insurance policies written by any company, society, or other body, and general banking business. Though life insurance will not be subject to price control, all other forms of insurance will be.

The Government already possesses wide powers, enabling it to fix prices for general banking services. The Minister of Customs, Mr. Keane, said that the new regulations bad been made necessary by the increasing shortage of goods and manpower and the development of black markets. "1 am particularly concerned about the possibilities of the development of black markets, and, if necessary. the prices regulations will be amended to deal effectively with the problem,” he said. "The Government has no desire Io interfere With normal trailing practices that fall within the scope of the prices regulations, but. it will ruthlessly stamp out. mean and ignoble practices associated with the emergence of black markets.”