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Tuesday, 7 December 1965

Mr CREAN (MELBOURNE PORTS, VICTORIA) - My question is addressed to the Treasurer. During the weekend considerable publicity has been given to the increased availability of credit for housing. Is the Treasurer aware of the serious situation facing the textile industry generally, and the woollen mills particularly, as far as the availability of credit to finance the course of production between wool buying and the final sale of the product is concerned? I refer in particular to a mill in the Geelong district which has reduced employment from 300 at the beginning of the year to 160 now, 32 dismissals having taken place last week. Will he discuss with the Governor of the Reserve Bank of Australia within the next few days the need to make credit more freely available for this important, decentralised industry?

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