PM Transcripts

EMBARGO: 4. OOPM SUNDAY 12 MARCH 1974
) AUSTRALIA 12 May 1974
PETROL PRICE
The Liberal and Country Parties are now clearly committed to
a massive increase in the price of petrol. It is no comfort to
Australian consumers to be told that the full impact might be delayed
a year. Not only would the price of petrol go up but all goods would
go up as a result of increased production costs and transport costs.
Mr. Anthony let the cat out of the bag let the tiger out of the
* tank. He has destroyed the Opposition's remaining credibility on
the issue of inflation. If this sectional and divided coalition
became a Government, inflation would go through the roof.
Mr. Snedden and Mr. Anthony are united on one thing; they
believe the price of oil should go up next year. They have not yet
said how much they believe it should go up. The truth is that their
policy means an extra 20 cents per gallon on petrol. Fuel oil and
LPG wodld go up by $ 200 a ton. Increases of this size cannot be
Justified. Their impact on inflation would be huge, whether it
happened now or next year.
0 Australian voters will not be fooled by the pre-election attempts
of the opposition to cover up this outrageous proposal. On Wednesday
in Perth Mr. Anthony said that a rise in the crude oil price was " urgent".
He said the same on 11 March of this year. He said then that there would
Sbe a " substantial jump in the price of oil" in September 1975 and added
W that a " gradual rise" would be more easily absorbed. He seems to have
backed away from his idea to increase prices in a series of steps.
But he has now confirmed the Opposition's support for a ' substantial jump
in the price of oil" next year.
Mr. Snedden has known for some time that this was Mr. Anthony's
view. It is only now, just before the elections, that he tried to get
out of it. Why did he refuse to make these statements when Mr. Anthony
said similar things before?. Mr. Snedden was asked at a press conference
on 10 April to " make an unequivocal statement that the agreement would
not be re-negotiated before September 1975". He refused. What he did
say was very revealing:
" There is no reason why the other parties to the agreement
can't ask us for it to be re-negotiated and if they did so
then of course it would have to be discussed with them."
If BHP and ESSO wanted to increase their profits by a minimum
of $ 260 million per yeaV under Liberal/ Country Party government all
they would have to do is ask! ./ 2