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Wednesday, 12 April 1961

Mr Ward d asked the Treasurer, upon notice -

What is the present purchasing value of the Australian £1 taking the year ended 30th June, 1949, as the base?

Mr Harold Holt - The answer to the honorable member's question is as follows: -

Because of disparities in price movements for various commodities and services, in various places and at various stages of distribution, it is impossible to designate any single figure as representing in all circumstances the change in value of money in recent years.

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