PM Transcripts

Transcripts from the Prime Ministers of Australia

Transcript 6025


Photo of Fraser, Malcolm

Fraser, Malcolm

Period of Service: 11/11/1975 to 11/03/1983

More information about Fraser, Malcolm on The National Archive website.

Release Date: 16/02/1983

Release Type: Speech

Transcript ID: 6025

Mr Hawke often tells us of his great expertise in
industrial. relations. One would have thought he would
know his facts. Given the importance he gives to a
" prices and incomes policy", one would have expected
him to do at least a little homework.
Mr Hawke recently said in a national television broadcast that
there was never a price! s and incomes policy in Britain.
But the facts dernostrate that there was.
Mrs Shirley Williams who ran the policy in-Britain during
the seventies has said that " In practice it ( was) quite
a strict policy". She demonstrated clearly that Mr Hawke
was plainly and simply wrong.
Mrs Williams also made it clear that the British prices
and incomes policy was only maintained by pretty
draconian powers and penalities powers that are not
available to an Australian government. It cau! sed
companies to cut back on investment and damage their
longterm interests with an inevitable destruction of jobs
and job opportunities,
But Mr Hlawke still won't accept the facts. He's still
twisting and turning with word games and oxcuses. He says
" I put it that there was not a situation where there was
in place policies in regard to all the eleinents of prices,
dividends, rents and interest..., arid I adhere to that
as does every commuentator who has examined the situation
there. There were elements of a prices and income3 policy
but part of the problem was that the parts did not make
a whole"
Mr Hawke still can't get it right. Don't take my word for
it, take the word of Mrs WilliaITIs who says quite plainly
" In practice it is quite a strict policy. The incomes
policy side was voluntary but it was very much kept. On
the pr-ices side direct control of the retail mark-ups,
the amount that the retail Lrade could add on to any sale,
and thore was also a prices code for the private company.
And companies had to yet approval from the uvernment before
they could increase thoir prices beyond a certain amount."

A no ted Br : i : u ' nw a rnnorni st, san'u, 2 I z: itt lain
sunluned it oi I; up st c'Qa' on Au: 4-tr-Ilian T~ i) when 1
Wa: 3 anfl} d wZI: W C Luw2dyim ic. a: y Aujt dfl
" forget it.".
he can't a fford to taeLI aIAs% with soihd wois ans
Sloppy Vfth hiS h'rincwcu r dMr Hnx: evi2' uiry is.
Austrai a inds raaL~ lne, rxi it.. ' This is junt aiIICthfl
a rea where Mr Hawo' a! Kigir( C& CQCl Ir n the word oif;
the FinancilvJ Rev ' iew~, 1M'Li stand close scrutinfy".

Transcript 6025