Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    
Wednesday, 22 March 1961

Mr Ward d asked the Treasurer, upon notice -

1.   What amount of fees has been paid to the private trading banks in their capacity as agents for the Commonwealth Development Bank in the receipt and transmission of applications for assistance since the bank was established?

2.   Are all applications received by the private trading banks passed on to the Development Bank with or without a recommendation?

Mr Harold Holt - The Commonwealth Banking Corporation has supplied the following information: -

1.   Nil. No fees are payable by the Commonwealth Development Bank to the private trading banks for the receipt and transmission of loan applications.

2.   Usually a private trading bank makes a recommendation when transmitting a loan application to the Development Bank.

Mr Ward d asked the Treasurer, upon notice -

1.   Is it a fact that the Commonwealth Development Bank requires a primary producer who is an applicant for financial assistance to have at least a 50 per cent, equity in his property before the request will be considered?

2.   Is the value of stock &c, owned by the applicant disregarded entirely by the bank?

3.   If so, is this situation consistent with one of the objectives of the bank declared at the time of its establishment, namely, to assist primary producers who have need of financial aid to expand production?

Mr Harold Holt - The answers to the honorable member's questions are as follows: -

1.   No.

2.   No.

3.   See answers to 1 and 2.

Mr Ward d asked the Treasurer, upon notice -

1.   Has the Government indicated that banks should confine their activities to the field of banking and not engage or invest in business undertakings where they could become competitive with their banking customers?

2.   Has the entry of private trading banks into the hire-purchase field met with the approval of the Government?

3.   If so, does the Government support the extension of bank activities into other fields of business investment?

Mr Harold Holt - The answers to the honorable member's questions are as follows: -

1.   No.

2.   Commonwealth Government approval was not required.

3.   See answer to 2.

FN .30 Rifle.

Mr Ward d asked the Minister for Supply, upon notice -

1.   When is it expected that all Australian Military Forces will be fully equipped with the FN rifle?

2.   Is the rate of supply of these rifles determined by the amount of finance available or by the rate of production at the Lithgow Small Arms Factory?

3.   Is it a fact that large quantities of FN rifles have been sold overseas whilst some Australian units have to be satisfied with obsolete equipment?

4.   How many years have now elapsed since the Government first decided to adopt the FN rifle for use by Australian Military Forces?

Mr Hulme (PETRIE, QUEENSLAND) (Minister for Supply) - The answers to the honorable member's questions are as follows: - 1 and 2. We are producing the rifles to a programme laid down by the Department of the Army and production and deliveries are to schedule and have always been to schedule.

3.   Overseas orders which have been accepted by the Department of Supply have not affected deliveries to the Australian services in accordance with the programme.

4.   The decision to adopt the FN rifle was advised to this department on 1st September, 1954. There was a necessary period between the original decision to adopt the FN rifle and manufacture in Australia until the first production models of the weapon were tested in September, 1958. During that period the department was engaged in - (a) negotiating and completing the agreement to manufacture the rifle in Australia, and (b) obtaining the sealed drawings of the rifle from the design authorities. Canada had undertaken this task on behalf of the United Kingdom, Canada and Australia. These drawings had to be converted from metric system to English measurement and the basic drawings were not obtained until early 1956. However, to ensure complete interchangeability of United Kingdom and Australian production we had to await the United Kingdom sealed drawings. These became available in May, 1957. There were nearly 20,000 of these drawings covering planning sketches, tool design, component design, re-arrangement of production layout drawings.

Imports of Paper.

Mr Osborne (EVANS, NEW SOUTH WALES) (Minister for Repatriation) e. - On 15th March, the honorable member for McMillan (Mr. Buchanan) asked when action could be expected as a result of representations made regarding imports of paper at dumping prices.

I am now able to inform the honorable member that following the representations made by Australian Paper Manufacturers Limited for the imposition of dumping duty on certain types of imported paper and paperboard, evidence was obtained which indicated that a prima facie case of dumping had been established.

A reference was forwarded to the Tariff Board on 16th March which in due course will form the subject of a public inquiry. In the meantime provisional measures of protection are being accorded1 to the industry by means of cash securities to be imposed on all shipments made at unfair prices.

Suggest corrections