Conciliation and Arbitration Commission. We will base our approach to that Conference on the conclusions of the Summit and on the prices and incomes accord. In that context, I would point out again that all at the Summit agreed that if a centralised system of wage fixing is to work, there must be an abstention from sectional claims except in special and extraordinary circumstances. Let me say that my Government's interpretation of what constitutes such circumstances is the common -sense interpretation and leaves no room for selfish claims from maverick sections of the trade union movement. Participants at the Summit Conference recognised that if restraint in incomes is to be exercised, then it should be exercised universally. In that spirit of equitable sharing of the burdens of recovery the Summit also stressed the need for restraint in non-wage incomes such as dividends, professional fees and the like. Accord Mark II (September 1985) The accord was a reaction to the falling Australian dollar and inflation caused by higher-priced imports. Accord Mark III (March 1987) This represented a move from the formally indexed wage rises to a two tier system of wage fixation requiring efficiency offsets in exchange for wage increases. Source material for accord 3 Accord Mark IV (1988) Accord Mark IV stressed the Structural-efficiency principle. It encouraged employers to adopt new ideas like, The Establishment of Career Paths, Broadbanding, Multi-skilling and work patterns and Arrangements. Source material for accord 4 Accord Mark V (1989) Wage increases based on implementation of changed Award wages. Accord Mark VI (February 1990, revised November 1990) Source material for accord 6 Accord Mark VII (October 1991) Brought the concept of Enterprise Bargaining. Accord Mark VIII Accord Mark VIII was never implemented. Source material for accord 8 End of the accords The election of John Howard in 1996 dramatically changed the ideological position of the Australian government. The Liberal government was opposed to any wage fixing. This government's core beliefs were that the free market should determine wages, whilst the government should focus on tight monetary policy and avoid budget deficit. This began a period of increased hostility between the government and the union movement in Australia and marked the end of the Accord period. Criticism Criticisms of the Accord come from both the right and the left. Leftist critics claim that it kept real wages stagnant for over ten years. In this view, the Accord