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Thursday, 7 May 1970

Mr BURY - I deal with the last part of the question first. The Government's policy for the Budget of 1970-71 will not be brought before the House for some months. I have had my remarks run off and circulated to all honourable members. If the honourable member has any doubt about what I said and if he has not received a copy I will be pleased to supply him with one.

To answer the remainder of h's question, I point out that the effect on the building industry is incidental to the general position. What I said was that in this last quarter, in which there always occurs annually and seasonally a tight liquidity situation, the Budget surplus emerging from last year's Budget would operate to restrict liquidity. The Government's action was not designed directly to have any effect on the housing industry. It was designed to restrain demand and excess of money over goods and services available over the whole of the community, of which the building industry is a part. If the honourable member wants any figures which he has not been able to find in the Budget papers or in my speech, he can put a question on the notice paper and I will supply the precise details.

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