CONFERENCE -WITH AUS3TRALIAN COUNCIL OF TA K
This afternoon representatives of the Australian Council of Retailers discussed problems currently facing the Australian economy with the Prime Minister and other senior Cabinet Ministers.
The Council was represented by Mr. T. A, Pettigrew, President, Sir
Norman L. Nock and Messrs Frank Munro, R. OtLoan, C. C. Burfield,
Cr. Leo Curtis, Messrs Griffin and C. H. Langley.
All those present thought the discussion and exchange of
views was most useful. The Prime Minister stressed the importance
of the retail viewpoint which was most valuable because of its
close contact with the public.
The points stressed by the retailers were the important
need to stimulate the economy in order to engender public
confidence and to raise the level of employment. The retailers
recommiended that the Government should take immediate steps to
increase family endowmnent and pensions. In particular, "-here was
a need to raise the income level to enable the family man -to meet
his household budgct commitments. They felt that action of this
nature would provide a quick stimulus to business activities.
The retailers also urged that more money should be provided for
the construction of low cost homes through organizations such as
the State Housing authorities, Co-operative Building Societies
and the gar Service Homes Division, and that the terms of finance
be made a good deal easier. This should also have stimulating
effects on industry generally.
The question of imports of merchandise u. as freely
discussed. The retailers assured the Prime Minister that the
relatively high level of imports which followed the release of
many items from import control had tapered off substantially.
They believe that expansion in consumer spending would not
materially alter that situation. Retailers fully appreciated the
importance of supporting Australian industry and would do
everything within their power to encourage the purchase of
Australian made goods.
Mr. Menzies said that all the suggestions put by the retailers would be weighed carefully by the Government as soon as the present series of consultations ended.
Mr. Pettigrew thanked the Prime Minister for the opportunity to place the views of retailers so freely before him and for the very frank discussion on current economic problems that had taken place. He was certain that these would have a most beneficial result.
CANBERRA
19th January, 1962.
P. M. NO. 8/1962