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Thursday, 26 February 1987
Page: 698

Senator COLLARD —I ask the Minister for Education whether she will confirm the advice in her interest rates briefing note that the report of the Indicative Planning Council to be presented to next month's meeting of the Australian Housing Council:

. . . will contain an assumption that any reductions in market rates that occur this year will not be sufficient to allow reductions in housing loan interest rates in 1987 . . .

and that-

Whilst reductions in housing rates may occur in the first half of 1988, it is unlikely that such reductions would have any significant impact on building activity until the second half of 1988.

In view of the Government's desperate attempts to discredit the briefing note, has any change been made or will any change be made to the report of the Indicative Planning Council?

Senator RYAN —I do not need to discredit anything. Senator Collard has read extracts from the briefing note which I tabled yesterday. I do not know what point he is trying to make. I have made it clear and the Prime Minister has made it clear that we do not share the conclusions in that briefing note. Indeed, a number of events have overtaken that briefing note, in particular the decision by the Government to have a May economic statement.