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Thursday, 13 April 1961

Mr PETERS (SCULLIN, VICTORIA) - I direct my question to the Treasurer. Were the loans recently raised in New York and Switzerland for the purpose of paying for specific goods purchased by the Government to promote Australia's development, or were they to finance private purchases of such goods? Are arrangements being made to raise a loan in London for similar purposes? If the loans are not for the purpose of purchasing specific goods, are they to repair temporarily the wastage of overseas funds which has occurred as a result of the Government's disastrous economic policies? Will the Government give the House the details of how loan moneys have been spent and how future overseas loans will be spent?

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