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Tuesday, 3 March 1970

Mr HURFORD (ADELAIDE, SOUTH AUSTRALIA) - I direct a question to the right honourable Treasurer. Has the Government any plans at all to alleviate the burden of high interest rates on the community? I noted none in the Governor-General's Speech. Is the Treasurer aware that the crushing burden rests most cruelly on the middle and lower income groups of our country, adding to the cost of housing, local government rates and so on? Is he aware that some local government authorities are paying interest of up to 8% and more for their money, this rate deterring them from carrying out urgent community development projects? If the Government is bereft of plans in this area of great need will the Treasurer please tell the House why the Australian Labor Party solution outlined before the last federal election cannot be adopted in this sphere as it has been in so many others?

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