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Tuesday, 11 September 1973
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Mr LYNCH (FLINDERS, VICTORIA) - I ask the Treasurer whether he recalls his reply to a question asked by the

Leader of the Opposition in this House on 30 August in which he said:

If the state of the economy is to be the criterion, I suggest to all investors that they hold on to their shares.

Does the honourable gentleman now realise that such advice is hollow and misconceived in the light of yesterday's massive downturn in the stock market which has led to major losses by many thousands of small investors? Does he appreciate that confidence throughout this country will not be restored by fine words from him or by ad hoc decisions of the type we have witnessed recently, but requires a coherent and cohesive package of anti-inflationary policies? Will the Treasurer give this House an assurance that the Government will adopt a comprehensive multipolicy approach to combatting inflation and so restore confidence in the Australian economy?

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