PM Transcripts

jA U). T HA IIA
PRIME MINISTER PRESS STATEMENT NO. 387
27 November 1974
INDUSTRIES ASSISTANCE COMMISSION REFERENCE
IRON AND STEEL
The Prime Minister, Mr Whitlam, today announced that
he had sent a reference to the Industries Assistance Commission
on the question of assistance needed to support the continued
growth of Australia's iron and steel industry.
Mr Whitlam said that continuity of a soundly based
and efficient iron and steel industry is fundamental to the
Australian economy and that the Government is concerned to
ensure the progressive de~ Yelopment of the industry in
keeping with projected Australian and overseas demand.
Mr Whitlam commented that while alloy steel, high
carbon steel and electrical steel had been reviewed between
1966 and 1968, major developments had since occurred in these
sectors of the industry both within Australia and overseas.
The nature and extent of these developments had led the
Government to call for an interim report on this sector of
the industry. other iron and steel now under reference had
not been reviewed since the 1930' s and the wide reference
will consequently give the opportunity for a much needed
consolidated review of the whole industry.
The Prime Minister concluded that he considered it
desirable that measures for the sound development of the
iron and steel industry be reported on by the Industries
Assistance Commission before reviews already scheduled in
the Tariff Review program in respect of industries using
basi-' c iron and steel, because of the particular importance
t~ o almost all sectors of industry of iron and steel costs.
CANBERRA. A. C. T.