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Thursday, 2 April 1987
Page: 1732

Senator HILL —Has the Minister for Finance considered the leasing of South Australian power stations to Japanese and Austrian interests? Does the Minister consider that the scheme contains elements of tax avoidance? Does he consider that it is in breach of the leverage leasing provisions of 1982? Does the scheme by which the State is to raise some $150m from overseas breach Loan Council guidelines?

Senator WALSH —I heard, I think on the wireless a few days ago, some reference to power stations--

Senator Haines —Wireless!

Senator WALSH —Yes. I resist North American linguistic cultural imperialism.

Senator Puplick —Hear, hear!

Senator WALSH —I have one supporter over there, at least on one issue. It was the wireless when I was a boy. That I understand is the English word and radio is a North American incursion. As to the reported arrangements about involving Japanese capital in some way in the operation or construction of power stations in South Australia, I do not know the details of either the leasing arrangement or the Loan Council implications, if any, of the financial arrangements which have been made in total. I will refer the matter to the Treasurer and obtain an answer as soon as I can.