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Thursday, 19 May 1960

Mr HAROLD HOLT (HIGGINS, VICTORIA) (Treasurer) - I regret to learn of the tragic occurrence to which the honorable gentleman has referred. I am not aware of any special request by the Premier of South Australia. Of course, at the meetings of the Australian Loan Council, it is customary for premiers generally to press for a programme which we usually find involves a greater amount of money than can be raised by way of loan, supplemented from Commonwealth revenue. Last year, the total amount provided for the works and housing programmes of the States was £220,000,000. That figure was about £10,000,000 above the corresponding figure for the previous year and it was estimated to be £30,000,000 above the amount that the Commonwealth could expect to raise from its borrowings inside Australia and overseas. South Australia's share of the total was just over £30,000,000, which was a little more than £1,000,000 in excess of the allocation made to South Australia in the previous year. I understand that of the £30,000,000 the sum of £5,000,000 was taken by the Premier of South Australia for housing advances this financial year. This was the same as. the amount taken in the previous year.

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