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Tuesday, 30 November 1976
Page: 2942

Mr BEAZLEY (FREMANTLE, WESTERN AUSTRALIA) -I direct my question to the Treasurer. I ask: In view of the fact that as late as last Wednesday he gave an assurance, which was published in the Press, that there would be no devaluation, does the Treasurer accept the fact that many people, accepting that as a truthful statement, would have lost very heavily from the subsequent devaluation? Is there any intention in those cases to pay compensation? Also, will the Treasurer give any indication in the future as to which of his statements may be regarded as serious statements of Government policy and which as window dressing?

Mr LYNCH - A function of any Treasurer, whether here or abroad, is, of course, to be utterly dogmatic about matters which involve the currency of his country until such time as a change is made. The honourable gentleman is quite right in referring to an article that appeared in the Australian last Wednesday. In fact, the interview was taped the previous Saturday. Ministers who were concerned in relation to a decision about devaluation did not. in fact, meet on this matter until Thursday and Friday of last week.

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