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Wednesday, 17 September 1958
Page: 1301

Mr DUTHIE (WILMOT, TASMANIA) - I address a question to the Prime Minister in his new capacity as Treasurer. I should like him to inform me how the chairman of the Commonwealth Bank Board can reconcile his recent state.ment that central bank advances are designed to halt unemployment and stimulate housing in view of the following facts - (a) that the registered unemployed still number more than 60,000; (b) that the number of employees in the building industry working on new buildings declined by 2,200 during the first quarter of 1958, and such workers are still being put off work; (c) that permits for the construction of new buildings in the six capital cities are the lowest for three years. Will the Government, through the Commonwealth Bank Board, insist that advances to private banks be channelled into housing as a top priority, that is, into areas where the economy is weakest?

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