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Wednesday, 25 September 1974
Page: 1383

Senator JESSOP (SOUTH AUSTRALIA) - I ask a question of the Minister representing the Treasurer. Is the Minister aware that the Treasurer has read 2 telegrams to the House of Representatives this afternoon? Can the Minister say whether the telegrams indicated that rumours of Australia devaluing its currency have been circulating in Britain for some months; also that rumours of an imminent devaluation caused a flurry of selling on the foreign exchange market today? Is it also a fact that the telegrams stated that the rumours spread rapidly through financial circles following a Melbourne newspaper report that the Government had decided on a 12 per cent devaluation? Is he also aware that this telegram stated that one Australian bank said that trading was normal until late this afternoon, when there was a sudden burst of selling activity? In view of the international implications of the leak described in a previous question put to the House by Senator Marriott, can the Minister indicate whether he will support a full inquiry into the source of the leak that caused this premature Press report?

Senator WRIEDT - I have not seen the telegrams referred to and I am not aware that they were read to the House of Representatives by the Treasurer. For that reason, I have no intention of making any comment on what the Treasurer is alleged to have said.

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