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Australia (Economic Situation)

Volume 244: debated on Tuesday 11 November 1930

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asked the Prime Minister whether any estimate has been made and can be furnished to the House of the effect on employment in this country likely to result from the financial and fiscal measures now being undertaken by the Australian Governments as a result of the recent negotiations between those Governments and banking interests in this country?

I do not think that any useful estimate could be made of the effect on employment in this country of the measures which the Australian Governments have thought fit, or may think fit, to take in the light of their economic situation.

Having regard to the fact that in the first quarter in which those measures were beginning to be operative, British exports to Australia dropped to one-half of their value, as shown by a previous reply a few days ago, does not the right hon. Gentleman think that these matters are of very great importance to employment here?

Of very great importance, but there is a phrase which has been dinned into my ears for the last four or five weeks which I shall never forget, that our Dominions occupy an equal status with ourselves.