ECONOMIC CONTROLS NEEDED
Intensification of economic controls was necessary if Australia was 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 a ceiling price control was a complete answer to the criticism that the plan was a method of concealing inflation. The fullest development of rationing restrictions on non-essential productions, limitation of luxury expenditure, and rationalisation and concentration of industry were necessary to offset any tendency towards inflation, and to maintain the price ceiling now established. Although the general level of taxation was higher in Australia than any other democratic country, there was still a good deal of surplus spending power in the hands of a certain section of the people.
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Northern Advocate, 15 May 1943, Page 5
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127ECONOMIC CONTROLS NEEDED Northern Advocate, 15 May 1943, Page 5
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