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Wednesday, 10 November 1976
Page: 2513

Mr UREN (REID, NEW SOUTH WALES) - My question is directed to the Treasurer. Has the rundown in Australia's overseas reserves in recent months- the situation is that we now have only enough reserves to finance 3 months of imports- been due to the Government's miscalculation in the Budget concerning foreign investment? Since tax concessions for foreign investors were a major factor causing the deficit contained in that Budget, will the Treasurer now agree that the Government's strategy has failed? What corrective action will be taken to combat the growing level of unemployment and the balance of payments problem?

Mr LYNCH (FLINDERS, VICTORIA) (Treasurer) -The answer to the first question is no and the answer to the second question also is no. .

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