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Tuesday, 11 September 1973
Page: 736

Mr BOURCHIER (BENDIGO, VICTORIA) - My question is directed to the Treasurer. I refer to the written promise by the present Prime Minister as given to the Australian Federation of Credit Unions in a letter dated 24 October 1972 which stated that a Labor government would (1) grant exemption from taxation on credit union incomes and (2) allow child endowment, social service and repatriation payments to be credited to the savings accounts of members of credit unions. In view of this statement, is the Treasurer prepared to explain why this promise was not carried out in the recent Budget? Further, is this promise ever to be honoured or is it another Labor Party promise to be dishonoured totally?

Mr CREAN - I thank the honourable member for the polite ending to his question. The matter is under discussion with the credit unions and taxation authorities. The matter is not quite as simple as is sometimes suggested. I can assure the honourable gentleman that it is being considered as also are the necessary administrative arrangements about the other matter.

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