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Tuesday, 6 November 1973
Page: 1520

Senator WRIGHT -I ask the Minister representing the Treasurer whether he has noticed that a circular from the Australian Mutual Provident Society has been publicised, advising an increase in rates of interest, up to 9.5 per cent, on advances on policies as from 1 February. Does the Minister realise that this sort of increase in interest rates is going on right through the money market? What purpose does the Treasurer hope to achieve by this insane degree of increase and when will interest rates be reduced to something like a normal level?

Senator WILLESEE -I will have the relevant parts extracted from that great speech and ask the Treasurer to comment on them.

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