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Thursday, 10 March 1966

Mr McMAHON - Allegations have been made of discrimination by the trading banks against various interests, particularly the farming interests. On occasions when these allegations have been investigated they have seldom proved to be true. If the honorable member can give me explicit illustrations, I will have them examined by the Reserve Bank and I will let him know the result. Naturally, we are worried about the position regarding carry on finance. I think that soon I should publish a statement, or the Prime Minister should publish one, showing the extent to which the Commonwealth Government has agreed to underwrite State budgets in order to permit carry on re-stocking finance to be made available. I will obtain details of the carry on finance available from the trading banks. Nonetheless, I am glad the honorable member asked the question because I will now put in hand an inquiry to find out whether there is evidence of discrimination. If there is discrimination, we will take whatever action is practicable to see that it is overcome.

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