Economic Outlook
p. 166 · Read in the full issue
' N early June, economic experts in Aus - - tralia were trying to access the impact of the 15/- per week rise in the Federal basic wage, which will put an extra £50.000,000 per annum into the Nation’s pocket.
Most of the experts were coming up with the inevitable conclusion that, in spite of all the wishful thinking on the subject, it would inevitably mean a further twist of the inflationary spiral: Higher prices, more funds pouring into the Treasury through income taxes, sales taxes, etc.