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Wednesday, 1 December 1965

Mr TURNBULL (Mallee) .- The statement that has just been made by the honorable member for Lalor (Mr. Pollard) is based on the assumption that an Australian owned overseas shipping line would be of economic advantage to Australia in that it would carry goods at cheaper rates and Australia's financial position in the future would be better than it is today. It is also based on an unfair interpretation of a statement made by the Treasurer (Mr. Harold Holt). The Treasurer said something to this effect: That he still had hopes of seeing an Australian owned overseas shipping line. But those words cannot be taken to mean that he had hopes of seeing it this year or next year or under present conditions. Therefore, the whole basis of the statement made by the honorable member for Lalor is erroneous, for the simple reason that he read into what the Treasurer said-

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