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Wednesday, 8 December 1976


Mr Les Johnson (HUGHES, NEW SOUTH WALES) -Did the Treasurer, in his devaluation statement, cite wage increases, especially the 2.2 per cent September quarter increase, as a major reason for devaluation? Does he recall that his Budget Paper No. 1 estimated that average earnings would increase by 12 per cent this financial year? How does he reconcile the 2 matters?







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