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Wednesday, 17 February 1971

Senator McMANUS - I ask a question of the Minister representing the Treasurer. Will the Government bear in mind that any austerity programme by Commonwealth and State governments should be planned and controlled carefully so that the private business sector and the private investor, are not panicked into excessive similar programmes and so lay the foundation for depression and unemployment, as happened in 1930? With the share market in a bad way and with the rural community's purchasing power gravely diminished, is there not need for great care lest austerity get out of hand and lead to a lack of confidence, unemployment and depression?

Senator Sir KENNETH ANDERSON - I do not think anyone would challenge the theme of the honourable senator's question, but in whatever measures the Government takes there have to be steadiness, sensibility and proper, not distorted, judgments. That is the art of - the science - government responsibility in relation to the economy. I am quite convinced that the Government will have regard, does have regard and always has bad regard to the points made by Senator McManus.

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