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Thursday, 26 November 1959


Mr BURY (Wentworth) .- The Opposition would do well to pay some attention to the bill. The remarks of honorable members opposite have nothing to do with the bill. They are merely dragging a red herring across the trail. This bill does not conjure up £1,000,000. Opposition members are giving us a re-hash of the arguments advanced on the bill that was passed a long time ago. What do they want? Do they ask that the £1,000,000 be taken away from the corporation? What they are saying has no relation to the bill at all.

The bill does two things. First, it increases the percentage of loss that may be covered in certain instances. Secondly, it gives further lee-way to the corporation in the way in which it can use the money already given to it. It gives greater discretion to the managers of the corporation to invest sensibly, as seems wise from time to time. The measure has been criticized on ideological grounds, but most of the arguments of Opposition members are outside the scope of the bill. I suggest that it would be a very good idea for them to return to it. Apart from the one ideological objection, I take it that they are entirely in favour of the bill, because they have raised no objection to anything contained in it.







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