FEDERAL WAR ECONOMY

Manawatu Standard, Volume LXII, Issue 287, 3 November 1942, Page 5

FEDERAL WAR ECONOMY

MOST SACRIFICIAL STAGE. 1 CANBERRA, Nov. .2. Australia is approaching tho third, last, and most sacrificial stage of her war economy in which civilians will be living on considerably lower standards than those to which they have been accustomed, declares the Australian Prices Commissioner, the New Zealander Professor D. B. Copland. “I suggest,” he says, “that this will ho a period of much greater tranquility than the present period. We shall then have reorganised our lives, industries, consumption, and general standards of conduct and enjoyment.” Professor Copland visualises the following standards for Australia’s third war stage: Private enterprise will he working on certain terms for the Government. The resources of the community will he allocated according to a general plan arrived at after a review of tho community’s whole needs. Civil consumption will he controlled hv rationing much more than to-day. There will lie more Government direction of productive methods with increased rationalisation. Investment will be confined almost enfirelv to war needs. Incomes and prices will he stabilised. Taxation will he at a maximum consistent with the retention of incentive, and surplus spending will be immobilised.