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Thursday, 16 September 1971
Page: 1409


Mr HAYDEN (Oxley) - Mr Speaker,I wish to make a personal explanation.


Mr SPEAKER -Order! Does the honourable member claim to have been misrepresented?


Mr HAYDEN - I claim to have been misrepresented by the Treasurer (Mr Snedden). In reply to a question which I asked, the Treasurer failed to deal with any of the points raised, but set about strongly suggesting that I had misrepresented the points to which I had referred from the annual report of the Reserve Bank of Australia and the Treasury White Paper entitled 'The Australian Economy 1971'. Accordingly, I take the opportunity to put these statements into the record so that it will be clear as to who is misrepresenting the position and who shows a rather alarming lack of competence in understanding economic principles. In the annual report of the Reserve Bank, under a section headed 'The Problem of Inflation', a brief analysis is made of the economy between 1969 and 1970, and then the following conclusion is made:

Hence it is harder to attribute the recent acceleration of inflation in this country to excess demand pressures.

That is something which seems to have escaped the Treasurer and other Government members. The report then goes on to discuss what measures might contribute to achieving greater price stability. The Treasurer and the House will remember that in opening my question 1 pointed out that there was an obsessional fixation ' on the part of Government members on wages being the sole cause of the present problems, and I was raising with him the point that there were other factors quite significant and substantial in their effect, demanding urgent attention.


Mr SPEAKER -Order! The honourable member in his personal explanation must concentrate on showing where he has been misprepresented. He cannot bring in extraneous matters or pass opinions.


Mr HAYDEN - I said that the Reserve Bank had called for structural changes and measures to increase competition amongst domestic producers. I quote:

Measures to increase the degree of competition among domestic -


Mr SPEAKER


Mr HAYDEN - Look, 1 have been misrepresented. This man is totally incompetent.


Mr SPEAKER -Order! The honourable member for Oxley will resume his seat for a moment.The honourable member is not being told not to make his personal explanation; he is being asked to make his personal explanation in the manner in which I have just requested him to do it, that is, to show where he has been misrepresented. He may not debate the matter.


Mr HAYDEN - With respect, Mr Speaker I am not debating the matter; I am putting the full quote on the record. In each case the Treasurer said that I had misrepresented the situation by truncating the quote.


Mr SPEAKER -Order! I must insist that the honourable member should point out to the House where he has been misrepresented. He will not debate the matter or quote at length from any document.


Mr HAYDEN - Then I suggest shortly and finally that the Treasurer, firstly, ought to read the documents from which I quoted, because I did not misrepresent the quote and, secondly he ought to show the common gumption to understand the policies of his own Party on labour retraining, primary industry and, tariff review -


Mr SPEAKER -Order! The honourable member is going beyond a personal explanation and will resume his seat.







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