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home / archives / 1974 / 23rd April

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Where it hurts!

An early form of Medibank (later Medicare) had been introduced by the Whitlam Government but it was largely unfunded. The Liberal Opposition was looking for revenue to fund it's own health plan and leader Billy Snedden was leading up to his pre-election launch speech on April 30. Income taxes had increased by over a third for low and middle income earners due bracket creep and high inflation. Home loan interest rates were rising steadily.

The Australian population had huge concerns over the economy.