VPRS 12078 Summary of Group Reviews

Rationing and Prices were originally a function of the Commonwealth Government as part of its defence responsibilities with State Deputy Prices Commissioners being appointed for each State under the National Security (Prices) Regulations 1939. This function, after a referendum, became one for the individual states in 1948. The Victorian Government passed the Prices Regulation Act 1948 to both control prices during the period of post-war readjustment and control the progressive removal of price control. A Minister in Charge of Prices was appointed from 1950 to 1955. Under the Act, Commonwealth officers could continue to be employed by the State for the purposes of the Act (S50) and to ensure continuity of administration of the function.Each year, based on the data obtained from Annual Financial Statements (found in VPRS 10251 Financial Analysis Files), reviews of the overall economic performance of business groups were prepared to assist in making price determinations and deciding upon the need for subsidisation. These detailed Group Reviews may be found in VPRS 12073 Group Review Files. Records in VPRS 12078 are summaries of these Group Reviews comparing the economic performance and costs of the business groups.