Canberra Plan To Freeze Part Of Wool Income
CANBERRA, Sept. 29.—A plan to take from the hands of woolgrowers most of the additional £200,000,000 which they are expected to receive as a result of. this year’s high wool prices was placed before a joint meeting of the Australian Government parties today. The plan provides for the freezing through the Taxation Department of amounts ranging up to 75 per cent, of big graziers’ incomes; the issuing ot warrants to holders of frozen money, with the proviso that they can be cashed when wool prices recede; and a subsidy to check rising clothing costs in Australia. It is understood that the plan has been endorsed by the Federal Cabinet, and needs only the approval of the Liberal and Country Parties. Members of the parties will be told that the huge new income coming to Australia will be shared by only 96,000 families. The scheme is believed to have originated with the Country Party.
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Greymouth Evening Star, 30 September 1950, Page 6
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161Canberra Plan To Freeze Part Of Wool Income Greymouth Evening Star, 30 September 1950, Page 6
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