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home / archives / 1974 / 26th September

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Beating a currency devaluation.

There was concern about the valuation of Australian currency as the rising price of oil and food contributed to inflation. Liberal opposition leader Billy Snedden had lost the double dissolution election earlier in 1974 when supply was blocked to the Whitlam Government.

There were suggestions in the Labor party that the dollar should be floated but this didn't happen until the Hawke-Keating Government in 1983.