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Wednesday, 20 May 1970

Mr JESS (La Trobe) (12:29 PM) - I am urged to support the amendments mainly by the remarks of the honourable member for Lalor (Dr J. F. Cairns) for the same reasons put forward by the honourable member for Bradfield (Mr Turner). 1 would like to stress what the honourable member for Lalor said. He said, I think in all sincerity, that he hoped that the 15% equity would be retained, if necessary, for a long period. He stated that the Deputy Prime Min:ster (Mr McEwen) had given him this assurance and that it was not intended to get in and out. He went further and said that when the Opposition formed the government they would retain the equity so that they could see that the companies went along in a certain line as desired. Is this anything but nationalisation of industry? If it cannot be seen what could happen surely the remarks of the honourable member for Lalor have indicated what could happen.

I accept the comments of the Deputy Prime Minister (Mr McEwen) that this is not intended by this Government. I accept the assurance of this Government. But I think that the greatest concern must be felt by anybody in regard to this clause, and leaving aside for a moment the amendment moved by the honourable member for Lilley. Are we unleashing a vehicle which honourable members on the other side of the Committee could use and manipulate? We have fought-

Mr Foster - What a load of rubbish. Who said that the honourable members opposite were the most trustworthy people in the Commonwealth?

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