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Thursday, 27 November 1986
Page: 2877

Senator BROWNHILL —I refer the Minister representing the Prime Minister to his comments about interest rates on 22 October this year when, in reply to a question from me, he said that interest rates `will fall significantly this financial year'. In light of the Treasurer's comments in Japan that he does not believe that interest rates will fall, and the Prime Minister's comment that he believes that they will fall, is the Minister still prepared to stand by his statement of 22 October?

Senator BUTTON —I hope that Senator Brownhill has quoted my statement of 22 October correctly and has not exorcised a portion of what I said from a number of things I said at the time. I trust that the honourable senator has not done that. I referred to this financial year, according to the question the honourable senator asked me. The Opposition has gone through this exercise in the House of Representatives and in public as to whether the Treasurer and the Prime Minister were saying anything different. To resurrect it here indicates a degree of sadness and deja vu in respect of the performance of the Opposition in this place. I do not for a moment think that the Treasurer does not believe that interest rates will fall this financial year. I believe that the Prime Minister believes that they will fall this financial year.

Senator Brownhill —And you do.

Senator BUTTON —And I do.