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Thursday, 20 June 1946

Mr Holt t asked the Treasurer, upon notice -

1.   What is the official estimate of the depreciation in purchasing power to-day compared with 1st July, 1939, of (a) pound sterling: (b) dollars United States of America; (c) pound Australian? 2. (a) What was the basic wage in the six capital cities at 1st July, 1939; (b) what is the basic wage in those capitals to-day?

Mr Chifley - The answers tothe honorable member's questions are as follows : -

1.   Purchasing power over the goods and services included in the regimens of the respective official indexes of retail prices and rents of the countries referred to has declined between June, 1939, and March 1946, by the following, percentages: - United Kingdom 25 per cent.; United States of America 24 per cent.; Australia 19 per cent.

2.   The Commonwealth basic wage in each of the six capital cities of Australia has moved as follows: -


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