PM Transcripts

FOR MEDIA 19 February 1988
I have agreed to convene a meeting shortly of
representatives of the Business Council of Australia, the
Confederation of Australian Industry, the Australian Council
of Professions, the Australian Council of Trade Unions and a
representative of the small business sector.
The proposal to call the meeting arose out of today's
discussion at EPAC of prices and incomes policy, which
highlighted growth in executive remuneration very much
faster than the growth of average weekly earnings over
recent years.
Prima facie this is inconsistent with the general principle
agreed at the National Economic Summit Conference of April
1983 and reaffirmed today that restraint in income claims is
required to secure sustained growth in jobs and living
standards, and that such restraint should be exercised
universally. This meeting is intended to explore the causes of this
development and to examine what can be done to encourage
appropriate restraint in this area.
Representatives of these groups have indicated their
willingness to attend such a meeting. 004504