PM Transcripts

AUSTRAL IA
PRIME MINISTER June 1974
PRESS STATEMENT NO. 263
NITROGENOUS FERTILISERS SUBSIDY
The Prime Minister, Mr E. G. Whitlam, M. P."
announced today that legislation extending the Nitrogenous
Fertilisers Subsidy Act until 31 December 1975 would be introduced
into Parliament later this year. Mr Whitlam said that this action
was in accordance with the Government's commitment to continue
the present subsidy pending a report on the matter from the
Industries Assistance Commission.
Mr Whitlam said that under the Industries Assistance
Commission Act,+ assistance could not be continued beyond
31 December 1975 in the absence of a report from the Commission.
Mr Whitlam said the Industries Assistance Commission
had been asked to advise on the amount and duration of any
subsidy and the consequences of limiting any such assistance to
a maximum tonnage per farmer.
Under the present subsidy scheme the subsidy is paid
at the rate of $ 78.74 per tonne of contained nitrogen. It is
paid on nitrogenous fertilisers manufactured and sold for use in
Australia and in certain circumstances on imported nitrogenous
fertilisers, provided the full benefit is passed on to the user.
Subsidy payments in 1972/ 73 amounted to $ 13.1 million.
The Government recognised the regional importance of
nitrogenous fertilisers to sugar producers, horticulture and
sections of other rural industries.
Mr Whitlam said that the Government's decision on
assistance beyond 31 December 1975 would be taken after receiving
the Commission's report which has been requested by September 1975.
CANBERRA. A. C. T.