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    Next Fragment
Wednesday, 9 March 1966

Mr McMAHON - Already the Reserve Bank of Australia has asked the savings banks to make $24 million available during the balance of this financial year in order to get house building up to what we regard as a base or reasonable level. I cannot give precise figures, but it is hoped that within the first three months - that is the March quarter - there will be a substantial lift in both approvals and commencements. It is also thought that there will be a more significant lift during the last three months of this financial year. As to the second part of the honorable gentleman's question, Treasury officers have been instructed to consider other ways and means of giving a boost to both approvals and commencements. I have not yet had a paper from the Treasury as to what we can do or, for example, as to whether it should be done through the Commonwealth and State Housing Agreement or through some other means. As soon as I have discussed the matter with my colleagues and the Prime Minister the House will immediately be informed.

Suggest corrections