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Thursday, 8 December 1960

Mr O'CONNOR (DALLEY, NEW SOUTH WALES) - I address my question to the Minister for Trade. Is it correct that our overseas balances have now fallen to £341,000,000? In view of the continued deterioration in our overseas funds, is the Government satisfied that its policy of credit restriction will stop this downward trend? Will the Minister say what is the minimum figure that he regards as being reasonable and safe for our overseas funds to reach? Is it correct that the decline in those funds has exceeded the Government's expectations? At what stage will the Minister take firm and positive action to deal with this serious and alarming situation?

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