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Tuesday, 30 November 1976
Page: 2940

Mr E G Whitlam (WERRIWA, NEW SOUTH WALES) - I ask the Treasurer a question. Was the Reserve Bank consulted about the decision to devalue? If so, was the advice which the Bank gave accepted by the Government? If the Bank's advice was not accepted, did the Bank Board give the Treasurer a statement of its opinions? If that is the case, will the Treasurer table a copy of that statement?

Mr LYNCH (FLINDERS, VICTORIA) (Treasurer) - The honourable gentleman should be very much aware that there has been a long standing tradition in government not to reveal the official advice which comes to government from whatever the source. The answer to the first part of the question is yes. The answer so far as the advice of the Reserve Bank Board or the advice of any other section of Commonwealth administration is concerned is that of course that advice is not subject to disclosure.

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