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home / archives / 1974 / 16th May

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A shocked Labor Prime Minister Gough Whitlam is seen as needing the support of Federal Treasurer Frank Crean. On 13th May, 1974, five days before the general Federal election of 18th May the watchdog Prices Justification Tribunal had released its report on rising prices and inflation.

Due to political factors the role of the Prices Justification Tribunal in containment of inflation and influence on prices is difficult to evaluate.