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Wednesday, 27 September 1972
Page: 2041

Mr GARLAND (Curtin) (Minister for Supply and Minister assisting the Treasurer) - by leave - On behalf of the Prime Minister and Acting Treasurer (Mr McMahon) I wish to inform the House that the Commonwealth has decided to provide special budgetary assistance to New South Wales in 1972-73 in the form of a loan of $15m. The Premier and Treasurer of New South Wales, Sir Robert Askin, is introducing his Budget for 1972- 73 in the State Parliament tonight, and will be referring to the special Commonwealth assistance in the course of his Budget speech. The terms and conditions on which the special Commonwealth loan of $15m is being provided are broadly similar to those applying to the special loan of $ 17.5m made by the Commonwealth to New South Wales in 1971-72 and to the special loan of $10m made by the Commonwealth to Victoria in 1969-70. In deciding to provide this special assistance, the Government has had regard to the extraordinarily difficult Budget situation confronting New South Wales this year by reason of a number of special factors which the State Premier and Treasurer will be referring to in his Budget speech. The necessary legislative authority for the loan will be sought after the new Parliament is convened.

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