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Friday, 22 May 1936

Senator E B JOHNSTON (WESTERN AUSTRALIA) asked the Minister . representing the Treasurer, upon notice -

1.   Has the attention of the Government been drawn to the action of the associated trading banks in increasing overdraft rate? by½ per cent.?

2.   What action (if any) does the Government propose to take for the protection of primary producers and others from this increased interest burden ?

Senator Sir GEORGEPEARCE.The Treasurer has supplied the following answer: -

The recent press statements in regard to an increase in bank overdraft rates were not officially authorized by the banks, nor has the Government been advised of any proposed increase of the rates.

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