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Friday, 23 October 1931


Mr THEODORE (DALLEY, NEW SOUTH WALES) (Treasurer) - I have not been officially informed of the rate of interest to be-charged by the Commonwealth Bank for advances to local governing authorities. I understood that if would be 5 per cent. with provision fora penalty rate in respect of arrears. A charge of 5 per cent. would not be unreasonable in present circumstances.


Mr Crouch - I agree.


Mr THEODORE - If the honorable member has information that a higher rate is being demanded, I ask him to let me have details, and I shall refer them to the Commonwealth Bank.







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