HIGHER SELLING PRICE
NEW SOUTH WALES COAL INCENTIVE TO INCREASE OUTPUT Rec. 8 p.m. SYDNEY. Oct. 31. The price of coal mined in New South Wale? will be increased 5s a ton from next Monday. Drastic scaling down for the Federal Government subsidy to the coal industry will follow the higher selling price. This subsidy, which is now about £3.900.000 a year, is on the cost of production. It wilKcontinue to be paid only in special cases where otherwise there would have to be an undue increase in the price to consumers. Fuel merchants expect that the new retail price of best coal will be £3 15s to £4 a ton. Before the war it was £2 15s. , In announcing the increase, the chairman of the Joint Coal Board. Mr K A Cameron, said thal the increase would vary according to mining conditions. but would average 5s a ton The new price structure would give colliery proprietors every incentive to increase their output and efficiency and would at the same time bring coal prices more into line with current conditions. Manufacturers and officials of gas and electricity undertakings are generally pessimistic about the effect of higher prices on industry and all predict a rise in general prices.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ODT19471101.2.71
Bibliographic details
Otago Daily Times, Issue 26607, 1 November 1947, Page 7
Word Count
207HIGHER SELLING PRICE Otago Daily Times, Issue 26607, 1 November 1947, Page 7
Using This Item
Allied Press Ltd is the copyright owner for the Otago Daily Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in