Remember when: the Neumann group led push for a price freeze as the Aus economy struggled

A MAJOR Gold Coast company announced it would support calls for a three-month price freeze on materials.

Gold Coast History: Gold Coast Bulletin 1977, April 22. Front page.

Gold Coast Bulletin, Friday April 22, 1977

A MAJOR Gold Coast company announced it would support calls for a three-month price freeze on materials.

Neumann Associate Companies said it would apply the freeze to nine member companies involved in building and development work.

The move was to help stabilise the prices of sand and gravel produced by one of its mining companies, pre-mix concrete, precast correct products, sand reclamation and earthmoving operations.

It was expected to cost the company “thousands of dollars” which could have been gained by immediately raising prices.

The Neumann Associate group employed more than 200 staff at the time and all had received the benefit of a national wage rise.

A spokesman for the group’s directors said it was hoped that other companies supplying the building trade on the Gold Coast would follow their lead by supporting the freeze proposal.

Gold Coast Bulletin 1977, April 22. Front page.

He said the group’s decision to support the price freeze proposal following increasing concern at the way the economy was moving.

“While the company is not sure of the effect of the price freeze measures, we are prepared to give anything a go in the hope that prices will be stabilised and employment increased,” the spokesman said.

“Obviously it will mean an effective freeze of profit during the three month period.”

Meanwhile, council Alderman Norm Rix sued fellow councillor Keith Hunt over alleged defamation.

Ald. Rix claimed unspecified damages from Ald. Hunt, who also served on the council’s works committee.