FOR PRESS, I LIBRARY
LOANS TO AUSTRALIAN WHEAT BOAR~ D PM' no 19/ 1972
Statement by the Prime Minister, mr William McMahon, M. P.
Cabinet has approved the introduction of legislation to
enable the Commonwealth to meet its guarantee to re-pay loans made
to the Australian Wheat Board by the Rural Credits Department of
the Reserve Bank.
Tile loans were obtained by the Wheat Board to finance the
first advance to growers on quota wheat of the 197C-71 season. The
Commonwealth will lond the Board the fundsnaeded to repay the Rural
Credits Department the amount outstanding on the due date, 31 March
1972. l.. t is.. expected that about $ 95 million will he involved.
As in the case of the similar loan made to the Board by
the Commonwealth last year, the funds will be advanced at an
interest rate of 511%.
Further details are available from the M~ inister for
Primary Industry.
CANBE RRA
8 February 1972
McMahon, William
Period of Service: 10/03/1971 - 05/12/1972
Find more information on McMahon, William on the:
Release Date:
08/02/1972
Release Type:
Media Release
Transcript ID:
2530
Document:
00002530.pdf
1 Page(s)
Released by:
- McMahon, William
LOANS TO AUSTRALIAN WHEAT BOARD - STATEMENT BY THE PRIME MINISTER, MR WILLIAM MCMAHON CH P
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