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Wednesday, 20 November 1974
Page: 2562

Senator Sir MAGNUS CORMACK -Mr President,I had intended to ask a certain question, but being inspired by Senator Wheeldon I now ask another question. Mr President, in preface I make the following statement, which is a habit that seems to be developing in the Senate, and it comes from the Australian Labor Party campaign national launching address by the

Honourable E. G. Whitlam on 13 November 1972

The PRESIDENT -Order: Is this by way of a preface to your question?

Senator Sir MAGNUS CORMACK -Yes, it is a preface to the question that I will ask. The preparatory statement refers to what Mr Whitlam said in his address. He said:

Will you again entrust the nation's economy to the men who deliberately, but needlessly, created Australia's worst unemployment for 10 years? The worst inflation for 20 years?

My question, which is addressed to the Minister representing the Treasurer, is as follows: Has he noticed the curious parallel between the economic disruption that occurred when the Bolsheviks took over in Russia in 1917 and the introduction into Russia by Lenin of what is known as the new economic policy? Is it fair to say that the situation in Australia today is that which faced Lenin in 1921 and that we are now involved in a new economic policy?

Senator WRIEDT -Mr President,I think -

Senator Sir Magnus Cormack - Mr President,I will repeat the question.

The PRESIDENT - No. Senator Wriedt is about to reply to the question.

Senator WRIEDT -I think that Lenin's new economic policy of 1924 belongs in the history books.

Senator Sim - Nineteen twenty-one.

Senator WRIEDT - No, 1924. 1 think that is where it should stay, and I do not think that it is analogous to the present situation in Australia.

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