FOR PRESS: PM. No. 123/ 1967
DISCUSSIONS WITH REPRESENTATIVE S OF
THE ASSOCIATE" D CHA MER S OF MANUFACTURES
Stat ement by the Prime Minister, Mr Harold Holt
At the request of the Associated 1Chambers of Manufactures,
I had a discussion this morning with the Federal President, Mr F. C.
Curtis, and the six State Presidents of the Chambersi The meeting had
been sought to inforain me of views held by the members of AGMA on
problems which could arise for manuf atiring Industry consequential
upon the British devaluation of sterling and the Australian Gvrmnts
decision to maintain the existing value of the Australian dollar.
It was put to me that difficulties could arise in various
directions. There could be an increased penetration of the Australian
market by British exports taking advantage of the favourable position
created for them by the sterling devaluation. The British competitive
edge was likely to be felt not only on the Australian market, but In those
export markets particularly New Zealand where Australian manufactures
had been making some headway. Problems could arise for individual
manufactures from cancellation of orders as well as from a reduced share
of the Australian and export markets.
I assured the manufacturers' delegation that the Government
was fully conscious of the importance to the Australian economy and our
national well-being, of healthy and expanding manufacturing Industries.
This had been stressed by me in a number of statements I had made in
the course of this year. We would therefore wish to be helpful In meeting
these problems. I said It was probable that the problems for different
Australian industries would emerge at different times and to different
degrees. This seemed to me to call for a selective approach rather than
for one across the board which ACMA had proposed. I pointed to the
machinery already in existence for the protection of Australian manufactures,
Including the Tariff Board and the special advisory authority system. A
special advisory authority had been set up to ensure that in those cases where
the threat, or actuality, of serious damage could be demonstrated, remedial
action could be taken speedily with safeguards of subsequent Tariff Board
enquiry. I recommended the revival of the industry panel system which
had previously proved helpful working in co-operation with the Department
of Trade and Industry. This would permit a thorough examination of the
facts and, where justified, assist in the preparation of a case to the
Government seeking emergency action by the special advisory authority.
I told the representatives of ACMA that study had already
commenced on the effects of the British decision, and undertook to bring
their views to the meeting of Cabinet scheduled for next week.
I have also agreed that, within the fortnight following that meeting, a a e e / 2
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I would arrange for ACMA representatives to meet with the Economic
Committee of Cabinet. This interval of time would enable the Government
and the Chambers to form a clearer picture of the likely consequences and
the experience of their members in the period immediately following the
British devaluation.
CANBERRA, 22nd November, 1967
BACKGROUND: The ACMA delegation comprised
Mr Mr Mr Mr Mr Mr Mr Mr Frank R. Curtis, President
W. W. Pettingell, Vice President
M. I. MacTaggart, President, New South Wales
L. H. Waite, President, Victoria
W. Hughes, President, Western Australia
A. Gehrmann, President, Queensland
S. Thyne, President, Tasmania
W. J. Henderson, Assistant Director.