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Sale of Australian savings bonds through post offices



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TREASURER

EMBARGO

is

PRESS RELEASE '<*7

NOr^r

STATEMENT BY THE TREASURER, THE HON JOHN HOWARD, MP SALE OF AUSTRALIAN SAVINGS BONDS THROUGH POST OFFICES

As from Monday, 27 October 1980■subscriptions for Australian

Savings Bonds will be received at all official Post Offices

throughout Australia. The agency arrangement is being instituted

initially on a trial basis for one year. Its success will be

reviewed towards the end of that period and a decision taken on

whether the agency should continue on.a permanent basis.

Savings Bonds are designed to provide the small investor with

a secure Commonwealth-guaranteed investment offering a worthwhile

return. Use of Post Offices as an outlet for ASBs is intended

to improve access to this worthwhile vehicle for saving.

... , V-. ( _

Banks and stock brokers have previously been the principal

outlets for ASBs and have performed a most creditable service.for

the Commonwealth. No changes. are envisaged in these arrangements.

CANBERRA ACT 24 October 1980