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Thursday, 1 December 1960

Mr ENGLAND (CALARE, NEW SOUTH WALES) - I ask the Treasurer whether it is a fact that, in the town of Grenfell and, indeed in all towns west of Bathurst where all industry is engaged in export pursuits, the Industrial Acceptance Corporation has withdrawn agents' finance and retail finance for the purchase of farm machinery, tractors and motor vehicles, and that since then it has not been possible to arrange hire-purchase finance with any other of the well-known hire-purchase companies in those areas. Does this action accord with the Government's economic directives which, it is understood, specifically exclude any hardship from being imposed on export industries? Are the only agencies in these areas which are now able to provide finance those which handle General MotorsHolden's and Austin Massey Ferguson equipment? Is it in the best interests of the community that hire-purchase finance provided from Australian sources should be available only for the purchase of the products of these two great but foreign-owned companies?

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