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Tuesday, 14 March 1961

Mr HAROLD HOLT (HIGGINS, VICTORIA) (Treasurer) - I did see some report in the press of a speech by Mr. Warren McDonald. The report would necessarily be an abbreviated account of what he said. From time to time, Mr. McDonald does consult with me in his capacity as chairman of the board of the Commonwealth Banking Corporation. T can assure the honorable gentleman that any proposals put forward by Mr. McDonald either in relation to the capita] structure or general policy matters on which he would wish to have the view of the Commonwealth Government will always receive the active attention and full consideration of the Government. When we are in a position at any time to make policy announcements arising from these discussions, they will be made either by Mr. McDonald or by me, whoever may be the appropriate spokesman in the circumstances. I will just say that broadly the Commonwealth Government is proud of the way in which this instrument of its policies has been functioning. We believe it has already made a useful contribution to the economic development of Australia and no doubt, in the years ahead, it will continue to add to its record of achievement, which so far has been so welcome.

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