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Wednesday, 16 May 1973
Page: 2223

Mr Les Johnson (HUGHES, NEW SOUTH WALES) (Minister for Housing) - I move:

That the Bill be now read a second time.

The purpose of this Bill is to authorise the Treasurer (Mr Crean) to make advances totalling S84.6m to the States for welfare housing during the first 6 months of 1973-74. The repayable, interest bearing advances will, as circumstances dictate, be made from either the Consolidated Revenue Fund or the Loan Fund and will be on the terms and conditions set out in the Agreement to be made between the Commonwealth and each State in pursuance of the Housing Agreement Bill. Provision is made for any payments out of Consolidated Revenue Fund for this purpose to be reimbursed in due course from Loan Fund where the Treasurer considers this appropriate.

The maximum amount payable to each State is set out in the schedule to the Bill and is equivalent to half the amount allocated by each State from its Australian Loan Council programs for housing purposes in 1972-73. The advances of these amounts are intended to be made under the Housing Agreement to provide for the States' needs for housing funds in the early months of 1973-74. The total amount to be advanced to each State in 1973-74 for welfare housing purposes, which is yet to be determined, will be the subject of an authorising Bill to be introduced into Parliament during the Budget sittings. I commend the Bill to the House.

Debate (on motion by Mr Bonnett) adjourned.

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