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Treasurer should clarify intentions for May loan



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The Deputy Leader of the Opposition, Mr. Phillip Lynch today called upon the Treasurer to clarify the Government's intention for the May loan.

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Any move to delay the loan for political reasons would be indefensible Mr. Lynch said.

"The Government's over reliance on monetary measures to curb inflation is being dramatically highlighted in the money.markets.

"Mr. Grean is becoming a victim of his own policies.

"The recent sharp rises - 3$ in some cases - of short term money highlights the extent of the liquidity squeeze.

"It is apparently the Government's intention to'keep the lid on' official interest rates for political reasons.

"A Liberal/Ccuntry Party Government's budget strategy would lead to an easing of tight monetary control.

"The inevitable interest rate hike implicit in Labor's economic strategy must lead to a period of stagflation.

This will be disastrous for Australia's economic future

April,25, 197^

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