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Thursday, 11 June 1970

Mr WEBB (STIRLING, WESTERN AUSTRALIA) - Has the Treasurer seen a report from the President of the National Building Association, Mr Hannaford, that housing commencements have been reduced by 25% in all States and by 45% in Western Australia due to the increase in bond rates which is reflected in other interest rates and consequently in the building industry? Incidentally, the latest report shows a 75 per cent reduction in commencements. Has this also caused hardship to thousands of home buyers throughout the State due to increased interest rates on mortgage contracts? ls he aware that his Government has done more damage to the building industry in Western Australia than he alleges the industrial trouble in the "building industry in New South Wales has caused? Will he give urgent consideration to this vital matter as requested in the many petitions presented to this Parliament on this subject?

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