PM Transcripts

P. M. No. / 62
CONFERENCE ITH KT. TLP,
Statement by the Prime Minister, the Rt, Hon. R. G. Menzies
This evening representatives of the Master Builders!
Federation of Australia discussed with the Prime Minister and
other Commonwealth Ministers recent and prospective developments
in the building industry.
The Federation was represented by Mr. J0Bryant
President; Messrs H. tilckens and A. V. Jennings; and Mr. LR.
Dudley, -xecutive Director.
Representatives of the Federation emphasised the
desirability of a quick lift in employment. They submitted a
number of short term and long term proposals designed co
stimulate home building activity, and also commercial build. ing.
The short term proposals were:
Injection through Housing Societies and Savings Banks of
funds to lift construction,
An immediate release of overdraft accommodation by the
Banks, and
An increase in the size of maximum loans.
In the longer term they recommended the establishment
of a Federal Home Finance and Mortgage Bank to perform specialisfunctions
in the home building field, encouraament of self-help
through greater savings and housing bonds rith special
conditions, and the announcement of 5-year targets.
The Federation also proposed the immediate
introduction of a depreciation allowance on income-producing
buildings. Mr. Menzies said that the story told by those with
practical experience in the building industry was most valuable,
and that the proposals submitted by the Federation would be
taken into consideration by the Goverr: rent in formulating its
short and long term plans.
CANBEPRA, January, 1962.