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Thursday, 14 May 1936

Senator FOLL (Queensland) .- What will be the position if no trade treaties are effected ?

Senator A J McLACHLAN (SOUTH AUSTRALIA) - The rates will then remain as at the present time.

Senator FOLL - The Tariff Board took into consideration the possibility of trade treaties being arranged, and reported that 50 per cent. was a fair duty. Now the Minister says that if the Government is fortunate enough to negotiate a trade treaty the rate will be reduced from 60 to 50 per cent. ! Such a reduction would not make a difference of a farthing on each article. The Minister . gave us yesterday an interesting analysis of the affairs of companies operating in Australia, and quoted the board's criticism of them. If there is one octopus in Australia, it is the Australian Glass Company; it is building up huge reserves; and its shares have increased in value by 450 per cent. Yesterday it was regarded as a crime for another industry to be successful, and I expected that the affairs of the Australian Glass Manufacturers Company Limited would be laid bare in this chamber. I support the amendment.

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