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Thursday, 12 October 1972
Page: 1553

Senator COTTON - On 30th August 1972 Senator Jessop asked a question without notice concerning investments made by life insurance companies. Further to the reply given at the time, the Treasurer has provided the following information:

Life insurance companies invest their funds as widely as possible within Australia both geographically and by type of investment. Many of these investments have provided finance for a wide variety of projects of a developmental nature. In addition to maintaining substantial investments in Commonwealth, Local and Semi-Government securities, life insurance companieshave invested in a broad range of Australian industries such as iron and steel, petroleum, natural gas, alumina, fertilisers, chemicals, timber, mining and quarrying. Investments have also been made in the pastoral industry as well as in housing finance, the development of new suburban shopping centres and the redevelopment of central city areas.

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