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Thursday, 11 July 1946


The CHAIRMAN - I ask the Minister to deal with the clause.


Mr CALWELL - The right honorable gentleman cannot have it both ways. The shares do not appreciate one minute and depreciate the next. He contends first that they are depreciating, because the Government is to do what it proposes to do, and his other argument, which is a valid one, is that the value of the shares is likely to appreciate as a result of what the Government proposes to do. That is the Government's case on this clause, and it is safe for the committee to authorize the Treasurer to make advances to the commission up to £3,000,000.







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