AUST. BOOM DISCUSSED
Govt Will Not Intervene (N.Z. Pries Assn.—Capvright) CANBERRA, May 2. Th* Australian Federal Treasurer (Mr William McMahon) today rejected a suggestion that Australia should attempt to prevent the entry of “hot" speculative money being invested la Australian share*. He was replying in the House of Representatives to Labour member, Mr Reginald Connor, who said that the Australian stock exchange boom was getting out of control. Mr Connor asked whether the Government could distinguish between genuine development investment, permanent portfolio Investment and speculative money. Mr McMahon said he doubted whether it was valid to use the phrase out of control. But the Government did not intend to intervene because th* market was responsible for its Own actions.
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Press, Volume CVIII, Issue 31669, 3 May 1968, Page 15
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119AUST. BOOM DISCUSSED Press, Volume CVIII, Issue 31669, 3 May 1968, Page 15
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