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Wednesday, 11 October 1972
Page: 1409

Senator KEEFFE - I ask the Minister representing the Treasurer whether he is aware that overseas cleaning companies are now taking over Australian cleaning companies. Is he aware that the takeovers to date amount to between 25 per cent and 30 per cent of the total Australian investment? Can the Minister advise the Parliament whether he is prepared to investigate this matter and use preventive measures where foreign invesment exceeds 50 per cent or where new capital is not being used in the best interests of Australia?

Senator Sir KENNETH ANDERSON - This is clearly a question of detail on one hand and a question of policy on the other. For that reason I ask the honourable senator to put his question on notice and I will expedite a reply.

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