Fed: ALP calls for Treasury to release infnation data for GST

AAP General News (Australia)
12-22-1999
Fed: ALP calls for Treasury to release infnation data for GST

The ALP has called for the government to release all of its forecasts on inflation
after the OECD raised new fears of price hikes under the GST.

And leading market analysts HSBC say wage rises could accelerate in 2000 after a prolonged
period of low growth.

The Organisation for Economic Cooperation and Development has warned the government
and Reserve Bank to keep a close watch on inflation after the GST starts up on July 1
next year.

And it's warned policy makers to keep tabs of rising household debt.

Opposition Treasury spokesman SIMON CREAN says the government has kept secret its inflation
projections under the GST and he's urged Treasurer PETER COSTELLO to release all information
provided by Treasury to the OECD.

Meanwhile, HSBC warned of new wages pressures in 2000 and higher inflation due to the GST.

HSBC economists, in their report on the wages outlook for 2000, expected average weekly
ordinary time earnings to grow 3.8 per cent in 2000 and 4.5 per cent in 2001.

AAP RTV jg/jn/msk

KEYWORD: ECONOMY (CANBERRA)

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