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Thursday, 14 November 1974
Page: 2371

Senator CARRICK - My question which is directed to the Minister representing the Treasurer refers to the various financial measures taken by the Federal Government in the 8 weeks since the announcement of the Federal Budget, including the latest mini-budget, specifically the devaluation, and the additional expenditure announced late yesterday afternoon, belatedly, on sewerage, and various other items. I refer also to the statement yesterday that the Budget deficit is now expected to be $ 1,300m. I ask: Does the $ 1,300m projected record deficit include provision for the substantially increased cost due to devaluation? Is the Minister aware that the estimated additional costs for one Department alone- the Department of Foreign Affairs- as supplied to Senate Estimates Committee B is of the order of $14m? Do not the latest figures for current government expenditure, as announced today, showing a 39 per cent increase on the previous year, challenge all the basic assumptions, particularly on inflation, embodied in the Budget? Finally, will the Government submit to the Parliament as a matter of urgency, by the resumption of the sittings next week, a full statement of proposed expenditure and revenue for the year 1974-75, revised to include all additional expenditure commitments and revenue forecasts since the Budget, and indicating the specific additional costs, including devaluation?

Senator WRIEDT -Obviously, the question should go on notice and be referred to the Treasurer for an answer.

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