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Wednesday, 16 November 1927

Senator FINDLEY (Victoria) .- Agreements have been entered into between the CommonwealthBank and the State savings banks of Tasmania and Queensland, in which it is provided, in the case of Queensland, that 70 per cent, of the increase in deposits in that State shall be expended within the State in the manner desired by the State Government. The Minister for Defence (Senator Glasgow) in moving the second reading, of the Commonwealth Housing Bill, said that 50 per cent, of the increase in deposits of the savings bank would be utilized in connexion with the proposed housing scheme. I should like to know how that proposal affects the agreements already in existence.

Senator Sir George Pearce - The Minister for Defence meant 50 per cent, of the total increase for the Commonwealth.

Senator FINDLEY - In effect, the Minister for Defence said that if the deposits increased from £50,000,000 to £60,000,000, one-half of the increased amount, £5,000,000, would he made avail able for the housing scheme.

Senator Sir George Pearce - That is so.

Senator FINDLEY - Not if Queensland is entitled to '70 per cent, of the increase in deposits.

Senator Sir George Pearce - In that State.

Senator FINDLEY - Therefore it cannot apply to the whole , Commonwealth, as the Minister (Senator Pearce) suggests, as Queensland and Tasmania must be exempt.

Senator Sir George Pearce - But there are four other States.

Senator FINDLEY - Therefore it applies to only four States. Tasmanian senators ought to be clear as to what the

Agreement really means.

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