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Wednesday, 14 November 1973
Page: 1755

Senator YOUNG (SOUTH AUSTRALIA) - I direct a question to the Minister representing the Minister for Social Security. Does the Minister recall my asking him last week whether he was aware that the current greatly inflated property values are making the present level of allowable assets for pensions unrealistic? As this is so, will the Government consider increasing the value of allowable assets to compensate for inflated values so that many pensioners and persons applying for pensions will not be further disadvantaged by the current rate of inflation? In his answer to me previously the Minister really failed to answer this specific question. I ask him again whether the Government will give consideration to my proposal.

Senator Douglas McClelland (NEW SOUTH WALES) - I recall the question which the honourable senator asked last week. I think I told him that it was Government policy, in accordance with an election undertaking given by the Prime Minister, that in each session of the Parliament the Australian Government would increase the subvention payable to pensioners by $ 1 .50 a week until the pension reached 25 per cent of the average weekly male earnings. This is Government policy and that Government policy will be adhered to.

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