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Thursday, 1 May 1980
Page: 2022

Senator MacGIBBON (QUEENSLAND) -I ask the Minister representing the Treasurer whether he has seen the headlines in today's Australian Financial Review on the success in the market place of the government bond issue yesterday. Did he see the statement that the way the issue was rushed indicates that inflation rates have peaked in the judgment of the Australian commercial world? Is this further proof of the Government's economic policies? Does it contrast starkly with the forecasts of doom issued yesterday from the Leader of the Australian Labor Party, Mr Hayden, and his quasi-economists?

Senator CARRICK - I have seen the article in the Australian Financial Review to which Senator MacGibbon refers. It does indicate that, despite the Jeremiahs, the people who understand what is happening and who are sensitive to the elements that make a stable economy have reacted with great confidence in this economy and a great confidence that there will be stability in the general trend of inflation and interests rates in this economy by comparison with the world outside. I think it utterly rejects the kind of critical comment that the Labor Party Jeremiahs have been putting up in recent weeks. It is a very nice tribute to the economic policies of the Government and to the general state of this economy, which is recognised internationally today to be a front runner in stability and initiative in the Western world.

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