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Tuesday, 2 April 1968

Mr McMAHON - As to the first part of the honourable member's question, the only information I can give him is that the trading banks and the savings banks this financial year are making about $600m available for housing purposes. This is an all time record. In addition I made it clear in the House only a few days ago that the number of commencements of homes - that is, unit homes - is now running again at an all time record level and this year should exceed the record rate of 118,000 last year. There is no pressing need to increase the number of commencements and consequently the amount of finance that is being made available. I cannot give the honourable gentleman an immediate answer to the second part of his question, which related to insurance. It was highly technical. I will get an answer and let him know what it is.

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