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Wednesday, 16 February 1977

The gang of four- inner Cabinet this week stood firm against demands from agricultural and mining leaders to alter the currency alignment in favour of exports.

Now we are told that this is the right policy to be following. The Minister for Primary Industry is reported as saying:

Do not be fooled into regarding devaluation as a cureall,' the Minister for Primary Industry . . . said in an interview.

Inflation is our main worry'.

I ask honourable members opposite to note this. The Minister then is reported as having said:

Any immediate currency change would prompt another inflationary spurt that would quickly offset any advantage it might bring to exporters. '

Mr Baillieu -Who said that?

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