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Tuesday, 7 December 1976

Mr LYNCH (FLINDERS, VICTORIA) (Treasurer) - I am happy to have the opportunity to answer the Dorothy Dix speech which has just been made by the honourable gentleman. It is characteristic of the honourable gentleman and those who sit with him that he should seek to create a scare in the market place at the present time. I simply want to say to the honourable gentleman that any suggestion of $1, 000m flowing into the country during the days of last week is a matter of manic speculation and is without foundation. It is not the custom of a Treasurer in this House responsibly to give daily reports on the flow of foreign capital into Australia. I should have thought the honourable gentleman would have understood that. Of course I receive those figures. The honourable gentleman is very much aware that they come out on a periodic basis through the Reserve Bank. I believe that the provision of that information best rests with the officers of the Reserve Bank. As for the change which has been made, I am sure that the honourable gentleman is aware of the statement issued this morning by Mr Harry Knight, the Governor of the Reserve Bank of Australia. For the information of the House, I seek leave to incorporate the document in Hansard.

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