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Tuesday, 9 November 1976

Mr Keith Johnson (BURKE, VICTORIA) -My question is addressed to the Treasurer. Is it true that company tax payments for the first 4 months of this financial year are approximately $500m below those for the same period last year? Is it also true that if these tax payments had been collected the annual rate of growth of the broadly defined money supply would have been approximately 1 1 per cent? Would such a growth in the money supply have meant that the latest monetary measures would have been unnecessary and the consequent fears of renewed recession would have been averted?

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