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Thursday, 9 December 1971
Page: 4636


Mr Whitlam asked the Minister for Housing, upon notice:

What is the estimated annual cost of capitalising a family's child endowment as a - housing grant, as is the practice in New Zealand.


Mr Kevin Cairns (LILLEY, QUEENSLAND) - The answer to the honourable member's question is as follows:

The cost of capitalising a family's child endowment would vary with the size of the family, the rates of endowment and the ages of the children. In addition, in New Zealand the amounts advanced when family benefits are capitalised are influenced by family circumstances, the discount rates applicable and expected mortality rates.

It is therefore impracticable to give a precise answer to the honourable member's question unless appropriate details of the size of family, the ages of the children and the interest rate and other factors are taken into account.







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