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Loan council affair no 19: critical treasury minute still secret



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Peter Reith

DEPUTY LEADER of the OPPOSITION PRESS RELEASE SHADOW TREASURER

LOAN COUNCIL AFFAIR NO 19: CRITICAL TREASURY MINUTE STILL SECRET

The Australian newspaper today reports the Secretary of Treasury revealing that a briefing note was prepared in June and sent to Mr Dawkins after a meeting with Treasury officials from the Victorian government. This Treasury minute was apparently forwarded to the Federal Treasurer with a request

for an urgent meeting, which subsequently took place on 6 July.

The existence of this document has not been revealed until this morning's newspaper report.

In Treasury's minute of 28 October there was no suggestion of this earlier minute - even though apparently it represents the first formal advice to the Treasurer of the breach of the global borrowing limits described by Mr Cole as jeopardising

"the whole credibility of the Loan Council arrangement".

Once again, we find that Mr Dawkins is pursuing his tactic of refusing to release all relevant documents.

Similarly, he has failed to release draft copies of proposed letters from Mr Sheehan to the Federal Treasurer on Victoria's budget position which were given to Federal Treasury officers on 25 June.

The simple facts are that Mr Dawkins knew that the Victorians were in breach of their global borrowing limits and he failed to include that information in the Federal budget in August when even the Victorians had acknowledged that they were in

breach.

Mr Dawkins will have to release further information and the sooner he does so, the better.

10 November 1992 Canberra

Contact: David Turnbull (06) 2774277 D195/92

COMMONWEALTH

P A R L IA M E N T A R Y L I B R A R Y MICAH