F76/ 7 ee, e
PRIME MINISTER January 1976
FOR PRESS ECONOMIC. CONSULTATIVE GROUP
An Economic Consultative Group has been formed to promote
a greater degree of consultation and an improved flow of
information between Government and the private sector.
The Government wishes to operate closely with the private sector
and all Ministers have been asked to review the operations of
existing advising bodies, so as to ensure that the Government
has adequate and appropriate advice available to it.
Within that context it is important that a dialogue be instituted
with leaders from industry and the trade union movement. The
Economic Consultative Group will provide appropriate
machinery for the purpose of economic discussion and would be a
useful supplement to the future tripartit1-e consultative body
to consider industrial relations matters.
Under the Chairmanship of the Treasurer the Economic Consultative
Group will comprise 17 leading business and trade union figures,
selected for their personal capacities as distinct from any
representational roles, and serving without remuneration. ./ 2
-2-
The deputy chairman will be the Minister for Industry and
Commerce, who will be representing the Treasurer in the Senate,
and working closely with him.
The first meeting of the Group will be early in February and
it will meet regularly thereafter.
Senior officials of the Treasury and the Reserve Bank and of
the Department of Industry and Commerce w; ill attend the meetings
and the Group will be serviced, in a secretarial capacity, by
the Treasury.
The formation of the Economic Consultative Group will ensure
that the Government is kept informed about the state of affairs
in the private sector.
A process of economic monitoring of this kind will supplement
the range of official statistical indicators and other economic
data and provide a valuable first-hand source of economic
intelligence and early warning about problems arising from time
to time.
At the same time, the formation of the Group will allow the
Government to present its assessment of economic condition to the
members of the Group and receive their views upon it. / 3
3.
Apart from Ministers, the membership of the Economic Consultative
Group will comprise:
* Mr Bell
Mr J. K. Campbell, C. B. E.
Mr L. G. Darling
Mr K. W. Edwards, A. A. S. A.
Mr. T. J. N. Foley, B. Com.
Sir James Foots, B. M. E.
Mr J. Egerton
Mr R. W. Henry, B. Sc., C. B. E.
Sir John Holland, Aust., F. A. I. B.
Mr B. S. Inglis, B. Sc.
Mr R. G. Jackson, B. Com., F. A. S. A.
Mr D. H. Laidlaw, LL. B., B. Litt.
Mr J. C. McNeill, F. A. S. A.
Mr K. W. Steel, F. A. I. I.
Mr K. C. Steele, D. F. C.
Mr J. Thompson
Mr Vines, L. C. A.
Present Chairman of the Australian Bankers' Association.