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Tuesday, 29 August 1972
Page: 471

Senator CARRICK - My question is directed to the Minister representing the Treasurer. I ask: Quite apart from the serious consequences of revaluation to the primary, mining and secondary industries and unemployment, is it not an act of surpreme irresponsibility and reckless ill judgment for a party leader, a few months prior to an election, to foreshadow the possibility of a currency revaluation? Is that not an invitation to overseas speculators to manipulate the Australian currency? Would not such an action in a country such as Britain be regarded as of sufficient gravity to demand and secure the resignation of that person?

Senator COTTON - I shall answer the honourable senator's question quite briefly by saying that I agree with what he has said as a general proposition.

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