PRIME MINISTER PRESS STATEMENT NO. 184
February 1974
PHOSPHATE FERTILIZERS BOUNTY
The Prime Minister, Mr Whitlam, today announced that
the Government had decided that the Phosphate Fertilizers Bounty
should be allowed to expire at 31 December 1974. Mr Whitlam said
that the decision was being announced well before the ending of the
bounty to give primary producers and the fertilizer industry time
to make appropriate adjustments to their planning.
Mr Whitlam said that the phosphate fertilizers bounty
meant the payment to the fertilizer manufacturers of $ 12 a ton
of standard superphosphate and an equivalent amount in respect
of available phosphorus in other fertilizers produced and sold
for use as fertilizer in Australia. The bounty is paid with the
intention that the full benefit be passed on to the end-user.
Total payments under the bounty to 30 June 1973 amounted to just
over $ 337 million and in 1972/ 73 to $ 56.6 million. Most of the
benefit of these payments goes to users in the more prosperous
rural industries. The bounty was introduced in 1963 to emphasise the
benefits arising from the use of superphosphate. This aim has been
well met and it is no longer appropriate for this expensive charge
to be carried by the taxpayer.
Canberra. A. C. T. IAUSTRA. IA. I c~
Whitlam, Gough
Period of Service: 05/12/1972 - 11/11/1975
Find more information on Whitlam, Gough on the:
Release Date:
15/02/1974
Release Type:
Media Release
Transcript ID:
3155
Document:
00003155.pdf
1 Page(s)
Released by:
- Whitlam, Edward Gough
PHOSPHATE FERTILIZERS BOUNTY
3155