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Thursday, 25 October 1973

Senator TOWNLEY (TASMANIA) - My question which is addressed to the Minister representing the Treasurer concerns housing interest rates. Is the Minister aware that many people find the recently imposed extra bank interest quite hard to pay, particularly when the interest has to be paid after paying tax. As it has been suggested that interest rates will again be lifted in the next 12 months, will the Minister give the people of Australia a definite statement that the Government will control interest rates and not allow them to be further increased by the banks so that home buyers will know what they are letting themselves in for when they buy a home?

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