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Tuesday, 14 March 1961

Mr LUCHETTI (MACQUARIE, NEW SOUTH WALES) - I direct a question to the Treasurer. Has the right honorable gentleman read a recent statement made by Mr. Warren McDonald, Chairman of the Commonwealth Banking Corporation, in which he asked that the Development Bank be freed from restrictive financial controls imposed 'by the Commonwealth Government? Has the Treasurer been officially approached by Mr. McDonald in respect of this matter? In view of a statement made by the Treasurer to the House on 25th November, 1959, that funds adequate for the purposes of the bank would be available, and that the Government would increase the supply of funds should it deem that to be desirable, will he now free the Development Bank from restrictive controls and ensure that necessary funds are made available for the declared objectives of the bank?

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