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Thursday, 21 August 1969

Senator CAVANAGH (South Australia) - The Opposition does not oppose this Bill. There is very little in the Bill to comment upon. It seeks authority for the Treasurer to raise money under the Commonwealth Inscribed Stock Act 1911-66 or in accordance with any Act authorising the issue of treasury bills. The amount to be borrowed is not to exceed in the whole $132,230,000. The Commonwealth seeks authority to raise this amount by loan for the purpose of complying with the Housing Agreement Act 1966. This Bill is designed for a very narrow purpose and any comments that we wish to make on housing and so on will not come within its ambit. It is necessary for the Commonwealth to have authority to raise this sum of money to enable it to carry out the wishes of both Houses of the Parliament in relation to the 1966 housing agreement between the Commonwealth and the States. The Opposition is not opposed to the Bill and will support its passage.

Question resolved in the affirmative.

Bill read a second time, and passed through its remaining stages without amendment or debate.

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