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Thursday, 1 June 1972
Page: 2430

Senator O'BYRNE - I ask the Minister representing the Treasurer: Why has no action yet been taken by the Government to exercise some authority over the inflationary influence of high bank interest rates? Is the Government not concerned with the spiralling prices of houses and the great, burden that high interest rates place on young people setting up a home?

The PRESIDENT - Senator Cotton, does that come within your ministerial responsibility?

Senator COTTON - ] am acting for the Treasurer - or I was until a few moments ago. I suggest to the honourable senator that this is a detailed question calling for a precise answer. I do not wish to engage in a discussion on the relativities of interest rates. I ask the honourable senator to put his question on notice.

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