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Tuesday, 29 November 1960

Mr MINOGUE (WEST SYDNEY, NEW SOUTH WALES) - Is the Treasurer aware that the interest on loans which were approved by credit corporations prior to his recent statement on the economy has now been increased from 8 per cent, to 10 per cent.? Is he aware also that finance houses have refused to meet their obligations to borrowers unless the higher interest rate is paid? In view of the great hardship which has been caused by the action of these finance houses as a result of the Government's policy, will the right honorable gentleman undertake to do all that is necessary to protect the interests of people who have already entered into obligations at the lower rate, particularly for the purchase of homes?

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