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Wednesday, 27 February 1952

Mr McCOLM (BOWMAN, QUEENSLAND) - My . question is addressed to the Prime Minister. I have been informed that the Commonwealth Bank is refusing, and, indeed, has refused for some time, to make any advances for the purchase of existing dwellings. That policy may possibly have some influence upon the expenditure of the allocation of £27,000,000 for war service homes before the anticipated time. If the statement as I have repeated it is correct, will the Prime Minister make inquiries with a view to ascertaining whether it will 'be possible for the Commonwealth Bank to relax its restrictions in view of the fact that he has said that, under the central banking policy, the bank is entitled to lend amounts up to £3,500 for the purchase of a new home?

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