P. M. No, 7/1962
This morning representatives of the Associated Chambers of Commerce of Australia submitted to the Prime Minister and other senior Commonwealth Ministers their views oil the present state of the economy, and their suggestions for future action by the Government in both the short and long term.
The Associated Chambers were represented by Mr. Cohin
C. Verco, their President, Mr. H. C. Thomas, Honorary Treasurer;
Mr. J. P. Macneil, President of the Melbourne Chamber of Commerce;
Mr. G. MA. Hastie, President of the Sydney Chamber of Commerce;
Mr. Colin C. Baird, President, Australian Wholesale Softgoods
Federation; Mr. A. F. J. Smith, President, Associated Chambers
Export Council; and iMr. R. -Rowe, Director,
The representatives of the Associated Chambers of
Commerce submitted forcefully that, in their opinion, there was
an urgent need for Government action aimed at a reduction in the
level of unemployrnent and in restoring the confiaence of
consumers. The Associated Chambers of Commerce are of the
opinion that an increase in Local Government expend-iture would
have an immediate benefiuial effect on the employment position.
They also advocated fiscal measures designed, in particular, to
encourage and permit increased expenditure by families in the
middle and lower income groups.
The Associated Chambers also suggested that some
stimulus be gzven to home building because any expansion in this
field would have far reaching effects on the demand for a wide
variety of materials and equipment.
Mr. Menzies said that this had been a truly valuable
discussion which would be of great benefit to himself and all
his Cabinet colleagues. The views expressed and the proposals
submitted by the Associated Chambers of Commerce would be very
carefully considered by the Government as soon as the present
series of talks with representative sections of the Australian
economy was concluded.
Mr. Verco said that he and the other members of his delegation were pleased with the discussions they had had.
Canberra
19th January, 1962,