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Thursday, 24 February 1977
Page: 526

Mr Fitzpatrick (DARLING, NEW SOUTH WALES) asked the Minister for Primary Industry, upon notice:

(   1 ) What sum has been received by the Government from the Australian Wool Corporation as repayment of its loan to operate the reserve price scheme to date.

(2   ) Does he anticipate that the full $245m budgeted for in 1 976-77 will be recovered during 1976-77.

Mr Sinclair - The answer to the honourable member's question is as follows:

(1)   Against borrowings by the Corporation under the Wool Marketing (Loan) Acts the Corporation has repaid $156.6m todate.

(2)   Notwithstanding the slower than anticipated recovery in consumer demand for wool on world markets, I would hope that the Corporation will be able to make full repayment by the end of the current financial year.

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