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Loan council affair no 11: confidentiality was Whitlam's defence too



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LOAN COUNCIL AFFAIR NO 11: CONFIDENTIALITY WAS WHITLAM'S DEFENCE TOO

In 1975 as the Khemlani Loans Affair was exploding in the face of the Whit lam Government, their only defence was

confidentiality.

They said they couldn't release details on the Loans Affair because borrowings should always be subject to confidentiality.

However, who today, that can still remember the economic

incompetence of the Whitlam years, would agree that the 1975 Loans Affair should have been kept confidential.

That is a ridiculous proposition. The Federal Government has been involved in a massive cover-up to save their Labor mates.

Mr Dawkins should resign.

2 November 1992 Canberra

Contact: David Turnbull (06) 277 4277 D182/92

WHAT THEY SAID IN 1975:

13 February 1975

"I noticed a report concerning this matter in one metropolitan journal. Matters relating to the currency, loans and the

commercial credit of the nation should be handled with the utmost discretion. I am acting accordingly."

(Rex Connor)

"I will give the same answer to him as he would have given to any question directed to him while he was Treasyrer or Prime Minister on matters concerning the credit of our country. Open government has never applied in respect of loans or valuations of the

currency."

(Gough Whitlam)

23 April 1975

"As I indicated to the Deputy Leader of the Opposition on a

former occasion, borrowing transactions are a matter of

confidentiality and responsibility and will continue to be so treated."

(Rex Connor)

26 May 1975

"The Leader of the Opposition, as a potential Prime Minister, perhaps, and also in the light of his Ministerial experience, would well know that certain matters are handled on a

confidential basis. It would destroy the whole principle of confidentiality if one were to discuss this matter on the basis that the Opposition wants to obtain information for completely scurrilous purposes. That information will not be given."

(Rex Connor)

27 May 1975

"My answer to the Deputy Leader of the Opposition is this: I repeat what I said to him some weeks ago; that in matters of

financial importance 2 things count - confidentiality and responsibility."

(Rex Connor)