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Jim Cairns - The Loans Affair | | Jim Cairns - The Loans Affair: Encyclopedia II - Jim Cairns - The Loans Affair | | In an attempt to raise funds for a massive Keynesian pump-priming exercise, Cairns and another senior minister, Rex Connor, tried to borrow huge amounts of petrodollars from the Middle East through an intermediary, a Pakistani banker called Tirath Khemlani (the so-called "Loans Affair"). When the Liberal Opposition learned of this, Cairns and Connor denied to both Parliament and to Whitlam that they had given Khemlani authority to act in the name of the Australian government. When it emerged that this was untrue, Whitlam moved Ca ...
See also:Jim Cairns, Jim Cairns - Early Days, Jim Cairns - Leading leftist, Jim Cairns - Cairns in Government, Jim Cairns - The Loans Affair, Jim Cairns - Cairns and Morosi, Jim Cairns - Aftermath, Jim Cairns - External link | | | Jim Cairns, Jim Cairns - Aftermath, Jim Cairns - Cairns and Morosi, Jim Cairns - Cairns in Government, Jim Cairns - Early Days, Jim Cairns - External link, Jim Cairns - Leading leftist, Jim Cairns - The Loans Affair | | |
| | | Jim Cairns: Encyclopedia II - Jim Cairns - The Loans Affair
Jim Cairns - The Loans Affair
In an attempt to raise funds for a massive Keynesian pump-priming exercise, Cairns and another senior minister, Rex Connor, tried to borrow huge amounts of petrodollars from the Middle East through an intermediary, a Pakistani banker called Tirath Khemlani (the so-called "Loans Affair"). When the Liberal Opposition learned of this, Cairns and Connor denied to both Parliament and to Whitlam that they had given Khemlani authority to act in the name of the Australian government. When it emerged that this was untrue, Whitlam moved Cairns from Treasury to the Environment ministry.
In addition to his involvement with Khemlani, Cairns also attempted to raise overseas funds through George Harris, a businessman and president of the Carlton Football Club. Cairns provided Harris with written authorisation to raise A$2,000 million, offering him a 2.5% commission. Cairns denied the existence of this letter, and when it was produced he denied having signed it. In July 1975, Whitlam sacked him from the ministry.
Other related archives12 October, 1914, 1914 births, 1933, 1939, 1944, 1946, 1955, 1957, 1960s, 1965, 1967, 1968, 1969, 1970, 1970s, 1972, 1974, 1975, 1977, 1979, 1982, 1991, 2000, 2002, 2003, 2003 deaths, 4 October, Arthur Calwell, Australian, Australian Labor Party politicians, B.A. Santamaria, Canberra, Carlton, Carlton Football Club, Communist Party, Confests, Cyclone Tracy, Darwin, Division of Lalor, Down to Earth, Dr H.V. Evatt, First World War, Gough Whitlam, John Howard, Junie Morosi, Keynesian, Labor Party, Lance Barnard, Liberal, Loans Affair, Marxist, Melbourne, Members of the Cabinet of Australia, Narre Warren, Police Force, Rex Connor, Robert Menzies, Tirath Khemlani, University of Melbourne, Victoria, Vietnam War, Whitlam, Yarra, conscription, counter-cultural, oil shock, parliamentary privilege, petrodollars, pneumonia, socialist, stagflation
 Adapted from the Wikipedia article "The Loans Affair", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki |
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