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Government's high interest rate policy now reducing employment



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JULIAN BEALE, M.H.R. Shadow Minister for Employment Training & Youth Affairs

M E D IA R E L E A S E

2 July 1989

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EMBARGO MIDNIGHT 2 JULY 1989

Government's High Interest Rate Policy Now Reducing Employment

The Federal Government's deliberate high interest rate policy is now reducing both employment and investment, the Federal Member for Deakin and Shadow Minister for Employment, Training and Youth Affairs, Julian Beale said today.

A serious economic downturn is indicated by the ANZ's latest employment figures.

This is the second successive significant fall in the employment advertisement series.

The ANZ Bank comments critically that Australian interest rates are extremely high both in absolute terms and relative to inflation.

The Government's present policies are clearly a recipe for recession and unemployment.

FOR FURTHER INFORMATION! (03) 241 9996

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