PRESS STATEMENT BY THE PRIME MINISTER
9 JULY 1975
WHEN I CALLED THE PARLIAMENT TOGETHER I CHALLENGED
THE OPPOSITION, TO PUT UP OR SHUT UP. THEY HAVE FAILED
ON BOTH COUNTS, THE OPPOSITION'S CASE HAS BEEN REVEALED
AS UTTERLY THREADBARE, UTTERLY WITHOUT SUBSTANCE,
NOT ONLY DID THEY FAIL TO SUBSTANTIATE ANY SPECIFIC
CHARGE AGAINST THE GOVERNMENT OR ANY MINISTER; THEY
FAILED TO MAKE ANY SPECIFIC CHARGE, I LISTENED CAREFULLY
TO MR FRASER. HE ASKED A SERIES OF VAGUE, EMOTIVE QUESTIONS,
: HEWOULDN'T LEND HIS NAME HE WOULDN'T GO ON THE RECORD
. WITH ONE SPECIFIC, PRECISE ACCUSATION OF ILLEGALITY OR
:: IMPROPRIETY. HE HID BEHIND THE PRESS. HE HID BEHIND
A BARRAGE OF SMEARS AND GENERALISATIONS. HE DEMANDED
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INQUIRIES AND ROYAL COMMISSIONS, HIS LINE & 4z? DOWN
TO THIS: " I'VE MADE A WHOLE LOT OF ACCUSATIONS ABOUT
SCANDALS AND BREACHES OF THE LAW. I HAVEN'T GOT A SHRED
OF EVIDENCE TO SUPPORT THEM, BUT YOU HOLD A ROYAL
COMMN, S M.. A
COMMISSION AND SOMETHING MAY TURN UP,"
WELL NOTHING WILL TURN UP NOTHING CAN TURN UP
BECAUSE THE GOVERNMENT HAS NOTHING TO HIDE, WE SOUGHT
TO BORROW MONEY OVERSEAS FOR A NUMBER OF SPECIFIC AND
NECESSARY PURPOSES. I OUTLINEDTHOSE PURPOSES TODAY;
THEY HAD ALREADY BEEN GIVEN IN PARLIAMENT. WE NEEDED
CAPITAL ON A LARGE SCALE AND MAKE NO MISTAKE, WE STILL
NEED CAPITAL TO DEVELOP OUR ENERGY RESOURCES AND KEEP
THOSE RESOURCES IN AUSTRALIAN HANDS. THOSE OBJECTIVES
. WERE PROPER AND THE MEANS WERE PROPER,
I SHOWED THAT AT NO TIME WAS PARLIAMENT
SMISLED ABOUT THE NATURE, SIZE OR SOURCE OF OUR LOAN
PROPOSALS, THE PROPOSAL WAS ECONOMICALLY SOUND,
LEGAL ADICE WAS OBTAINED FROM THE . GOVERNMENT'S LEGAL
ADVISERS BEFORE THE MINISTER FOR MINERALS AND ENERGY WAS
' GIVEN AUTHORITY TO PROCEED WITH NEGOTIATIONS FOR THE LOAN,
AUSTRALIA AND THE AUSTRALIAN GOVERNMENT Ws PROTECTED
AT ALL POINTS IN CONNECTION WITH THE PROPOSED BORROWING,
PROPER CHECKS WERE MADE ON THE BONA FIDES OF THE
INTERMEDIARY INVOLVED, NOT A CENT HAS BEEN PAID OR
S WILL BE PAID OR IS LIABLE TO BE PAID TO THE INTERMEDIARY.
THERE HAS BEEN NO IMPROPRIETY. THERE HAVE BEEN NO
BREACHES OF THE LAW. UNDER THIS GOVERNMENT AUSTRALIA HAS
ACHIEVED THE HIGHEST POSSIBLE STATUS A TRIPLE-A RATING
SAS AN INTERNATIONAL BORROWER, THAT STATUS REMAINS UNCHANGED,
If L