GOVERNMENT CONTROLS

Nelson Evening Mail, Volume 79, 8 July 1944, Page 5

GOVERNMENT CONTROLS

I*ERIOD AFTER THE WAR RETENTION FAVOURED BY IVIR CURTIN Canberra, July 7. The retention of sweeping Government controls for a period after the war is favoured by the Prime Minister. Mr Curtin. These controls-in-clude rationing, price fixation, wage pegging, controls over materials and investments and an important new one of keeping up consumer spending power. Mr Curtin said he would table in the Australian Parliament the British White Paper on the employment policy outlining the United Kingdom Government’s general aconomic policy after the war. The document’s general nature is indicated by the following important facts: Rationing, price control and control of materials are definitely to be continued after the war. The wage policy is also to be continued, and price control would be ineffective without the support of the wage policy, rationing and control of materials. Price control is regarded as one of the central features of the plan and there is the obvious intention to continue it in the long run, though in modified form. Investment control is to be an important feature and particularly in the short period after the war the Government proposes to maintain priorities in investment. As regards the long period, it proposes to encourage private investment to fluctuate in such a way as to even out the level of employment and to adjust' public investment to meet any deficiences in private investment. A further important element is contemplated action regarding consumer spending power. A principle objective of the economic policy is to keep up the spending power. Where depression is threatening the Government contemplates some action designed to sustain consumer spending power. The maintenance of cheap money is clearly an important part of the Plan.