£30,000,000 PROFIT FOR GRAZIERS FROM WAR WOOL
CANBERRA, June 7. Profits estimated’ at £30,000,000 will be distributed to graziers whose wool was acquired from 1939 to 1948 under the wartime wool purchase arrangement. The Minister of Commerce and Agriculture, Mr. Pollard, will introduce legislation in the Budget session for the distribution of profits under the wool disposals plan. The Government has not yet decided on the distribution period which will be a big factor in fixing amounts of graziers’ taxation assessments. At the end of the war Britain had 10,000,000 bales of unused Australian wool valued at £80,000,00, of which the liability to Australia was approximately half. Australia, New Zealand, South Africa and Britain set up a joint wool organisation to dispose of Dominion wool, including the Australian total. All but 3,000,000 Australian bales has now been sold. The current higher rates for wool are expected to bring the value of the 10,000,000 bales to £111,000,000.
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Gisborne Herald, Volume LXXV, Issue 22658, 8 June 1948, Page 7
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156£30,000,000 PROFIT FOR GRAZIERS FROM WAR WOOL Gisborne Herald, Volume LXXV, Issue 22658, 8 June 1948, Page 7
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