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Tuesday, 26 November 1974
Page: 2713

Senator WALSH (WESTERN AUSTRALIA) - My question is directed to the Leader of the Government in the Senate. I ask: Has he seen a report in last Thursday's 'Australian Financial Review' stating that the Organisation for Economic Co-operation and Development estimates the economic growth rate in its 24 member countries this year will be 'approximately zero'? Can this highly reputable forecast be reconciled with the Opposition's tiresome assertions that economic problems are caused by the Australian Government?

Senator MURPHY - Obviously it cannot be reconciled with the Opposition's assertions. The Opposition is falling into the error of blaming everything that happens in this country on the Government of the day. The people of Australia are well educated to the fact that there are serious international problems. Those problems have their effect in Australia. The Opposition simply will not recognise what is the plain economic reality- that the world is experiencing very great difficulties and that Australia, judged by world standards, is doing extremely well.

Senator Webster - Rubbish!

Senator MURPHY -One of the Opposition senators says: 'Rubbish!' The people of Australia will not accept the Opposition while the Opposition refuses to accept reality. When it starts to accept reality and to accept that the Australian Government, judged by world standards, is managing this economy very well it may start the very long process of coming back into public acceptance.

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