AUSTRALIAN BUSINESS URGED TO RESTRAIN PROFITS
Australian Prime Minister Bob Hawke
called on businessmen to hold their salaries and profit margins
as part of his campaign for economic restraint.
    In a speech to the National Press Club, Hawke said business
"must not puncture the spirit of community restraint" evident in
low wage increases and suppressed consumer demand.
    Hawke said the Federal Government would coordinate with
State administrations to monitor prices and profit margins.
    "At a time when a concerted national effort to restrain
costs is required, profit margins should not be increased," he
said.
    Direct price control did not appeal to the government, but
it would act to ensure market forces operated fairly and
businesses were reminded of their obligations to Australia,
Hawke said.
    The government would demonstrate its commitment with
spending cuts in its May 14 economic statement, he said.
    It would also limit increases in government excises
normally indexed to inflation to about six pct, Hawke said.
 REUTER
