RISES INEVITABLE
WAGES AND PRICES BUOYANT REVENUE LIMITS WARNING BY PREMIER Q 0 a.m.) CANBERRA. March 26. While the future Commonwealth expenditure was unlikely to fall below £400,000,000 a year—against £88,000,000 in 1938-39 —there were important limitations on the present buoyant revenue conditions, said the Prime Minister, Mr. J, B. Chifley, in the House of Representatives last night. He stated that the increased output of goods and services in future could come only from higher productivity because industry had reached the manpower ceiling. Mr. Chifley said it was evident that some rises in wages and prices were inevitable. He said the continuance of the present exceptional prices for wool and wheat could not be relied upon and said that if a drought or a major industrial disturbance occurred production would be restricted, placing a further limitation on the maintenance of buoyant revenue. Further, he said, spending from savings accumulated during the war must in time come to an end.
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22289, 26 March 1947, Page 4
Word Count
159RISES INEVITABLE Gisborne Herald, Volume LXXIV, Issue 22289, 26 March 1947, Page 4
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