ECONOMIC REGULATIONS

Evening Post, Volume CXXVIII, Issue 48, 26 February 1942, Page 6

ECONOMIC REGULATIONS

MR. CURTIN AGREES TO EXAMINATION

SYDNEY, February 25

An immediate effect of the Federal Government's new economic regulations as they relate to the limitation of company profits' has been a decision by several companies to defer the payment of their interim dividends pending clarification of the Government plan.

It is expected that people who depend largely for their income upon dividends from shares and who have liabilities to meet- such as income tax may experience temporary financial embarrassment in the event of dividends being withheld on an extensive scale. House and property agents also) claim that their, livelihood has gone because of the Government's embargo on the sale of land and houses.

The Prime Minister, Mr. Curtin, announced in the House of Representatives today his willingness for the appointment bf an all-party committee to- examine controversial features of the new economic regulations. He said he Had received complaints from sections of the community about the harshness of some provisions.

The Leader of the Opposition, Mr. Fadden, welcomed the idea, and said that while the Opposition agreed with the principles of the plan, it objected to the clauses which prohibited dealings in property or company shares. Such a course was bound to damage the war effort.

Mr. Fadden warned that if the committee's recommendations were not implemented by.the Government the Opposition reserved the right to take whatever action it thought fit.

Senator MacLeay. in the Senate made a similar statement on behalf of the Opposition, which is in the majority in that Chamber. He declared that the Government's proposals went too far. and were likely to lead to economic chaos.