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Monday, 23 March 1987
Page: 1288

To the Honourable the Speaker and Members of the House of Representatives in Parliament assembled. The humble petition of the undersigned citizens of Australia, respectfully showeth:

(a) That Australia's record high interest rates, currently at levels up to four times higher than competitor O.E.C.D. member countries, are causing severe hardship and damage to this nation's small business and farm sectors.

(b) unless immediately reduced these artificially boosted interest levels will inflict irreparable harm to the national economy.

(c) the individual initiative and job creation potential of the small business sector is in danger of being permanently crippled.

Your petitioners therefore humbly pray that:

(1) The Government will immediately reverse its interventionist policy which is artificially boosting interest rates in Australia to their highest level in 50 years.

(2) The Prime Minister, Mr Hawke, and the Treasurer, Mr Keating, will honour their 1983 election pledge to bring interest rates down from their then level of 12.5%.

(3) The Australian dollar will be allowed to float to find its own level in accordance with the Government's stated de-regulation objectives.

by .