ECONOMIC CONTROL

Grey River Argus, 15 May 1943, Page 6

ECONOMIC CONTROL

FURTHER MEASURES IN AUSTRALIA. CANBERRA, May 14. Intensification of economic controls were necessary if Australia is to be fully mobilised for war, declared the Commonwealth Prices Commissioner, Professor Copland. He added that the Commonwealth Bank Board’s commendation of the principle of ceiling price control was the complete answer to criticism ’that the plan wa's a method of concealing inflation. The fullest development of rationing restrictions on non-essential production limitation of luxury expenditure, and the rationalisation and concentration of industry were necessary to offset tendency towards inflation, and to 'maintain the price ceiling now established. Although the general level of taxation in Australia was higher than in any other democratic country, there was still a good deal of surplus spending power in the hands of a certain section of the people.