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Wednesday, 16 August 1989
Page: 105


Senator JENKINS —I give notice that, on the next day of sitting, I shall move:

That the Senate-

(a) notes:

(i) the Government's budgeted intention to provide welfare housing for 650,000 families over the next 5 years,

(ii) the absence of any other significant relief in the 1989-90 Budget for families with difficulty meeting the payment of exorbitant interest rates on housing mortgages,

(iii) that invitations are being extended to overseas investors to participate in record profits being made by banks in Australia whose profit margins are double those of banks in the United States of America, Canada and the United Kingdom, and

(b) deplores the logical conclusion that the Government plans to further impoverish wage and salary earners in order to promote subjugation of the nation to executive government in the ultimate interests of the international finance industry.