PM Transcripts

PRESS STATEMENT NO. 407
9 December 1974
Report Tyre Cord and Tyre Cord
Fabric
The Prime Minister, Mr Whitlam,. announced today
that as a long term objective the Government has accepted the
recommendations of the Industries Assistance Commission in its
report on Tyre Cord and Tyre Cord Fabric.
Mr Whitlam said that in view of current economic
conditions and the possible employment consequences of introduction
of the reduced duties recommended by the Commission, at this time,
the Government considered that the recommended duty rate would
best be phased in. The Government's decision was also made
having regard to the Commission's supplementary recommendations
received on 26 November 1974.
Implementation of the Government's decision will
mean in the case of viscose tyre cord fabric, current duties
will continue until 31 December 1976 and then reduce to
General until 31 December 1977 and then further reduce to the
rate of 15%. General recommended by the Commission. In the case
of other tyre cord fabrics, the current rates of duty will be
increased to the Commnission's supplementary recommended rate
General until 31 December 1975 then be reduced to the rate
of 15% General recommended by the Commission in its report.
In respect of viscose tyre cord fabric the Government
did not implement the Commission's supplementary recommended rate
as Courtaulds is already receiving assistance of $ 200,000 under
the Special Assistance for Non-l Metropolitan Areas scheme which
was announced by the Minister for Manufacturing Industry on
21 November 1974. A detailed statement of the Customs tariff changes
arising from the Government's decision will be issued by the
Minister for Customs and Excise when arrangements have been
finalised to implement the new duty rates.
CANBERRA. A. C. T.