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Tuesday, 14 October 1975
Page: 2037

Mr SINCLAIR -I ask a question of the Minister for Science and Consumer Affairs. Was it for the purposes of science that the Minister said on 9 July that his then colleague, the Minister for Minerals and Energy, would shortly be coming into the House with $4,000m in his hand and that he would be vindicated? What were these purposes? Was this knowledge that his former colleague was continuing to engage in loan raising activities exclusive to himself, Mr Connor and the Prime Minister or did others also know?

Mr Clyde Cameron (HINDMARSH, SOUTH AUSTRALIA) - It has nothing to do with consumer affairs, I can tell the honourable gentleman. It was wishful thinking on my part. I was hoping that he would be able to come into the House and say that he had been able to get a loan of $4,000m because I can think of a lot of projects that we could very usefully spend that sort of money on instead of allowing foreign investors to come in and rip off the cream of our natural resources- our mineral resources and our energy resources.

I can never understand how people who claim to have the interests of Australia at heart object to a government's trying to borrow money to develop Australia's mineral and energy resources so that the benefit of those resources will reside with the Australian people but prefer to allow the multinational corporations in foreign countries to come into this country and spend the same amount of money to get a stranglehold on Australia's mineral and energy resources. I am very disappointed that the Minister for Minerals and Energy was not able to come into the House with $4,000m to make it possible for us to develop our own natural resources in minerals and energy. When I said that I hoped he would be able to come in with that money I meant it.

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