PRIME MINISTER MONDAY 21 JANUARY 1980
From the Press Office SUMMARY OF 12.30 NEWS
A survey by the Australian Chamber of Commerce and the National
Bank indicates a significant improvement in trading and profit
conditions for the private sector in the final three months of
last year. The December quarter's business results released
today in Canberra show 71% of respondents-reported good or satisfactory
trading compared with 63% in the preceding quarter. The
survey also reports an improved demand for labour during the last
quarter. Pat Macguire reports from Canberra. The President of
the Australian Chamber of Commerce believes the latest results
provide evidence of a markedly improved outlook for capital
expenditure compared with the previous survey.
Foreign investment in Australia reached a record $ 3,321 million
during 1978-79. The figure released in Canberra today is $ 359
million higher than the previous set in 1977-78. The two largest
foreign investors in Australia last year were the United Kingdom
and the United States. As expected oil made up the biggest share
of overseas investment in Australia with $ 527 million being spent
in this area in 1978-79.
A British Cabinet Minister has warned that Britain faces the
prospect of threee years of unparalleled austerity. The Chief
Secretary, of the Treasury gave the warning at a seminar organised
by the Conservative Political Centre in London. Mark Colvin reports.
The minister, who is responsible for public spending in Britain
said the country must expect a period of low economic growth and
even recession for some years to-come. Mrs. Thatcher had indicated
that she wanted to cut public spending by $ 4,000 million a year
over the next three years.
Meetings of striking Wool Storemen and Packers in Sydney, Melbourne
and Adelaide this morning voted. to continue their-stoppage until
at least Thursday. Other meetings are to be held in Queensland and
Western Australia later today'. More than 1,000 Storemen and Packers
walked off the job two weeks ago followed by another 800 last week
after an appeal by wool brokers against a pay rise. The Federal
Industrial officer of the Storemen and Packers Union says the
decision to stay out will give the Arbitration Commission time to
call a compulsory conference of all the parties.
American athletes are to take part in a vote to determine whether
they want to go to the Moscow Olympics. This follows President
Carter's call for an American boycott of the Games unless Soviet
troops pull out of Afghanistan within one month. The Executive
Director of the United States Olympic Committee held a news
conference following the President's announcement. He said there
would now be a poll of the athletes to see if they favoured
competing in Moscow. He added that it was significant that the
President had made it very clear that he recognised the Olympic
movement as part of the private sector.
Radio Moscow has reported President Carter's recommendation without
comment but quoted what it called, observers as saying his move to
exert pressure was futile. There has been little reaction yet from
other countries. However the Egyptian Sports Minister has said
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that Egypt was seriously considering pulling out of the Moscow
Gamnes unless Soviet troops were withdrawn from Afghanistan. A
spokesman for the West German Government says it had great
understanding for the President's move but the spokesman made it
clear that the Government could not order West German sports
organisations to boycott the Games. Meanwhile the President of
the International Olympic Committee has remained firm in his
opposition to a boycott of the Games or their transfer -to another
venue. President Tito's doctors are said to be satisfied with the outcome
of the operation to amputate his left leg. Yugoslav officials
said the 87 year old president was feeling well in the circumstances
when he awakened after lengthy anaesthesia. Doctors said the
amputation was the only way to save his life. They believe the
next three days will be critical as there is still some danger of
further blood clotting. But President Tito's chances of living for
a considerable period of time are said to be good.
The Carter Administration believes that Muslim militants holidng
the American Embassy in Teheran have forced three of their hostages
to send propaganda letters to American newspapers. A spokesman
for the State Department says he can only conclude that much of
what the hostages said in some twenty letters to newspapers was
probably written at the request of the captors. The letters. sounded
very muchl like the material used by same three hostages in a
televised news conference they gave at Christmas time.
The Federal Government will launch a health programme in three
centres next month to persuade people to look after themselves.
Mr. MacKellar today announced that the programme would be tested in
Adelaide, Goulburn and idi Canberra for six weeks.
Rhodesia: An election rally for Mr. Nkomo was nearly called off
yesterday after mobs assaulted police. Peter Sharpe reports.
The Federal Opposition says many food processors should again be
forced to notify the PJT of price increases. The Opposition
Spokesman on Industry and Commerce said today the need was evident
from the PJT's report into the processed foods industry released
at the weekend. The report said some retailers sold old stock at
new prices and that their higher profit margin had increasedinflation.
He said that although the Government has dismembered
the PJT it was still capable of valuable work. He said the
Government should return to the PJT the functions of examining and
reporting on retailers' margins including their food profits. It
should also include reintroducing notification of price increases
by many of the food processors.
In South American at least 46 people were killed and some 500 injured
when a grandstand collapsed at a bull ring in Columbia.
The Australian film ' Mad Max' has won an award at a French festival
for -films on horror and violence. 000---