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Thursday, 1 December 1960

Mr WHITLAM - My question to the Treasurer is supplementary to that asked by the honorable member for Richmond. While the Treasurer's recently announced economic measures to correct and counter the growth of convertible notes, fixed interest borrowings and fringe financial institutions caused no surprise, in that they flowed from circumstances that were well known and well documented, the insurance proposals did cause surprise. In order to inform the public as fully on insurance and superannuation investment policies as it is already periodically informed on hire purchase and banking policies, will the Treasurer arrange for the Insurance Commission or the Commonwealth Statistician or his own " Treasury Information Bulletin " to give quarterly or other regular information on movements in the major assets of superannuation funds and life assurance companies?

Mr HAROLD HOLT - I examined the practicability of the proposals put forward by the honorable gentleman. I rather welcome, Sir, the implied support which 1 gather he is giving to some of the measures which the Government has announced, and I would certainly hope that the Opposition, if it adopts that attitude generally-

Mr Whitlam - The ones I have mentioned are not wrong, but they are belated.

Mr HAROLD HOLT - The honorable gentleman says they are not wrong - but that they are belated. I certainly hope that if the Opposition feels that those measures can make a significant contribution to our economic well-being it will apply, in another place, the democratic and constitutional principles that were given such pungent expression by the Leader of the Opposition in this House last week.

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