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Thursday, 22 October 1964

Senator O'BYRNE (TASMANIA) - I direct to the Leader of the Government in the Senate a question which concerns the imminent advent of the Volkswagen organisation into the manufacturing of cars in Australia. By way of preface, I point out that the present major car manufacturers are able to obtain reciprocal tax concessions, and under the laws of the country do not publish their balance sheets, thus concealing the vast amounts of money leaving Australia in the form of dividends, with consequential industrial unrest over the ability of the companies to pay better wages. In view of the statement of the Prime Minister that he would review the matter of Australian financial participation in overseas companies which come into already established industries in this country, will the Leader of the Government give an assurance that early consideration will be given to providing that in addition to there being a 95 per cent. Australian content in the cars, at least 49 per cent, of the capital content of the companies be Australian also?

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