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Wednesday, 16 October 1974
Page: 1739

Senator WALSH (WESTERN AUSTRALIA) - I ask the Minister for Agriculture what progress has been made in speeding up the flow of funds to wheat growers from the 1973-74 wheat pool? Has the third advance been paid and, if not, when is it expected?

Senator WRIEDT - There were delays in the third payment to wheat growers from the 1973-74 crop which were occasioned by several factors. The Senate will recall that recently the Parliament passed new legislation in respect of the wheat industry which now permits the Australian Wheat Board to borrow money commercially for the purpose of expediting further payments under the pool system. The third payment has in fact been made. It was made yesterday. An amount of $5 per tonne, which is 13c a bushel, was paid. It should be remembered that the amending legislation that has been passed recently has enabled the Australian Wheat Board now to borrow and thus to accelerate the payments to wheat growers. The accommodation has been found through the Commonwealth Trading Bank and I understand the repayment of the loans will be made within about a week.

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