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Friday, 30 October 1970

Mr HURFORD (ADELAIDE, SOUTH AUSTRALIA) - Does the Treasurer agree that the sharp seasonal liquidity fluctuations in Australia are damaging to our economy, particularly as they result in conservative Treasurers applying harsher monetary measures, such as even higher interest rates? Does he agree that these fluctuations are, to a large extent, caused by Government taxation policy whereby many individuals have large amounts of taxation to pay in April, many citizens receive taxation refunds in July, August and September, and many companies pay taxation in February? Will he introduce the United Kingdom practices in this matter? If not, what does his Government intend to do about this unsatisfactory situation?

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