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Wednesday, 9 February 2005
Page: 101

The DEPUTY PRESIDENT —The President has received a letter from Senator Sherry proposing that a definite matter of public importance be submitted to the Senate for discussion, namely:

The need for the Federal Government to:

(a)   note the increase in the current account deficit and foreign debt to record levels;

(b)   develop new pro-active policies to reverse the escalation of external deficits and debt; and

(c)   acknowledge that rising foreign debt puts upward pressure on interest rates.

I call upon those senators who approve of the proposed discussion to rise in their places.

More than the number of senators required by the standing orders having risen in their places—

The DEPUTY PRESIDENT —I understand that informal arrangements have been made to allocate specific times to each of the speakers in today’s debate. With the concurrence of the Senate, I shall ask the clerks to set the clock accordingly.