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Tuesday, 9 November 1976
Page: 2435

Mr ALDRED (HENTY, VICTORIA) - 1 direct my question to the Treasurer. Though the importance of the recent monetary restrictions in further reducing inflation is recognised, can the Treasurer assure the House that the restrictions will not undermine the longer term recovery of the small business sector which has always had great difficulty in obtaining finance? In asking this question I remind the Treasurer that renewed entrepreneurial activity in the small business sector is essential to the recovery of our type of economy, particularly after the mauling small business received from the economic incompetents who sit opposite?

Mr SPEAKER -Order! The honourable member has asked his question. I call the Treasurer.

Mr LYNCH - It was the economic activities of the former Administration which forced a large number of small businesses through the wall. As this Government has consistently said -

Opposition members interjecting-

Mr SPEAKER - Order ! The honourable gentleman will resume his seat. I call upon honourable members of the Opposition to cease the array of interjections.

Mr LYNCH - As I was saying, it was the direct economic policies of the former Administration which forced a large number of small businesses through the wall, and that is a matter of record. This Government has made perfectly clear that it believes in small business enterprise because it is essentially Australian and reflects the sense of enterprise which is very much at the heart of the philosophy which characterises this Administration. It was as a consequence of that belief that the Government brought down a series of initiatives in the last Budget which were directly applicable to the operations and profitability of the small business sector. I think firstly of the Division 7 initiative, and secondly, of the stock valuation program which I then foreshadowed. So far as the recent monetary measures are concerned, they are designed to soak up excess liquidity but not at the same time to impair the capacity of companies large or small to underwrite economic recovery at the present time.

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