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Thursday, 18 May 1939

Mr JOLLY (LILLEY, QUEENSLAND) - Seeing that semigovernmental borrowings in the Commonwealth now exceed, in the aggregate, the total amount of the loans arranged by the Loan Council for State governments, I ask the Treasurer whether the Government intends to take any action to coordinate local government borrowings with Loan Council borrowings, particularly as most of the semi-governmental loans are guaranteed by the State governments and therefore, in the final analysis, become the responsibility of the Commonwealth Government? Semigovernmental borrowings have increased from £6,000,000 in 1934-35 to £15,000,000 in 1937-38. Loans for State governments have dropped in the same period, from £21,000,000 to £13,000,000.

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