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Wednesday, 23 May 1973
Page: 2569

Mr Garland asked the Prime Minister, upon notice:

(1)   Does his reference in answer to a question that his Government would not permit stop-go policies in the economy mean that his Government will not avail itself of the economic, fiscal and monetary powers available to it, such as variation in taxes, interest rates, tariffs and the exchange rate (Hansard, 14 March 1973, page 538).

(2)   As some of these measures have already been taken by the Government, would he elaborate on the meaning of his statement and the policy implications.

Mr Whitlam - The answer to the honourable member's question is as follows:

(1)   No. The Government has had and will have recourse, as it sees necessary and appropriate, to the fiscal, monetary and economic powers available to it, but it will ensure that the use of those powers will not produce stop-go results.

(2)   The measures taken to date and the possibilities for future action were set out in detail in my opening statement to the Premiers' Conference on 10 May 1973.

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