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Wednesday, 1 December 1965


Mr Killen n asked the Minister representing the Minister for Civil Aviation, upon notice -

1.   How many (a) passengers and (b) aircraft movements were handled at each of the capital city airports in the last five years?

2.   What expenditure was incurred on capital city airports in the last five years?

3.   What expenditure is proposed to be incurred on these airports during the next five years?


Mr Fairbairn (FARRER, NEW SOUTH WALES) (Minister for National Development) - The Minister for Civil Aviation has supplied the following information -

1.   Passengers and scheduled airline movements during the five calendar years ending 1964 were -

 

 

3.   It is not possible to forecast the expenditure on the capital city airports during the next live years as this depends on the funds made available by the Government from year to year for aerodrome development.

The only forecast that can be made is of the expenditure on projects already in progress or approved by the Government. These are -

 

The further development of terminal facilities at Brisbane is not included in the current five years programme ending in 1967/8 but it is anticipated that it will be a project of priority in the next and subsequent five year programme.

It will be recalled that expenditure in excess of £2 millions was incurred between 1955 and 1960 when Brisbane was developed into an airport capable of taking large overseas aircraft.

Finance.


Mr Harold Holt t. - On 19th November 1965 the honorable member for Moreton (Mr. Killen) asked me the following question -

My question to the Treasurer relates to the freezing of funds. What formula, if any, is in existence which regulates the freezing of funds held by the United Kingdom as the banker for the sterling area? Is this essentially a pragmatic business, or is there some criterion which would enable a country to know what form of behaviour it could adopt or to what limit it could go before its funds would be in jeopardy?

I am now able to supply the following information -

The United Kingdom has imposed restrictions on the use of funds in non-resident sterling accounts only in the most exceptional circumstances. There is no " formula " governing action of this kind but, under the Articles of Agreement of the International Monetary Fund, any member country restricting payments against other members of the Fund has an obligation to obtain Fund approval of its action. Rhodesia is not a member of the Fund and is regarded as still being a nonmetropolitan territory of the United Kingdom. The United Kingdom action could, of course, affect payments between Rhodesia and members of the Fund.







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