Love PJK? Let the world know! www.redbubble.com/people/AusQ... Treasurer Paul Keating gets a question on inflation from shadow treasurer Peter Reith. Feb 13 1991
Paul Keating was one of Australia’s most charismatic prime ministers. He was a visionary figure whose “big picture” ideas helped transform the Australian economy, while still pursuing socially inclusive policies. He was a skilled parliamentary performer, renowned for his excoriating put-downs and wit. Keating played a major role in transforming Australian political debate. He highlighted the role of markets in restructuring the economy, engagement with Asia, Australian national identity and the economic benefits of social inclusion. As Treasure and Prime Minister As Treasurer in the Hawke government, Keating was the architect of the deregulation of the Australian economy. The government floated the Australian currency and allowed foreign banks to operate in Australia from 1983. Removed direct government controls from interest rates which had helped create a competitive disadvantage for Australian companies. Abolished the two-airline policy and achieved a general lowering of tariff levels. As prime minister, built strong bilateral links with Australia’s Asia-Pacific neighbours, particularly Indonesia. Was a driving force in establishing the Asia Pacific Economic forum (APEC) heads of government meeting with its commitment to regional free trade. Responded to the High Court decision in the Mabo case 1992 and enacted the Native Title Act 1993 and the Land Fund Act 1994, which was the first national recognition of indigenous occupation and title to land. In April 1993 he appointed a Republic Advisory Committee to examine options to make Australia a republic. Established the National Training Act 1992, presented the White Paper Working Nation in 1994 to combat rising unemployment. Proposed a national superannuation scheme to redress low national savings. Awarded Finance Minister of the Year award 1984 ... "World's Greatest Treasurer", becoming the first Australian Treasurer to be presented with the award .
It must have been galling for Keating to have to respond to those particular opposition MPs who were sons of privilege regarding economics and who dont have genuine business skills. Howard also became National Treasurer even though he failed high school economics.
John Howard is remarkably unresponsive during this video, which makes me think that perhaps he actually agrees with Keating (or he was still sour over the loss of his leadership.)
@@jubeman Howard as Mark Latham had said Howard the arselickr and conga line of suckholes …: very true indeed!!!!!!!!!!… even to this day Howard the arselickr conga line suckhole
How many years was this after Fraser/Howard lost... leaving us a triple double - double digit - interest, inflation and unemployment. Now we are headed for negative interest, massive unemployment but low inflation (too low) and no wage growth for almost 20 years and they can't figure out why - try Keynsian Economics being crap.
Sadly Australia is now stuck with LNP and Scotty from Marketing running the levers. Furthermore, in having the country in the same hands for 75% of the years since Keating (1996 to now) , Australia has indeed become the Banana Republic. Very unfortunate for so many rational and reasonable Australians,the young,marginalised and dispossessed.
these videos are fucking gold . Keating was savage in his tearing down of the libs during question time . Oh , & let’s not forget he made the stand alone prediction Donald Trump to win the presidency over hildabeastand they all laughed at him.
What is stunning to me, is that it was a *question without notice*. Unbelievable. It seems to me that Keating had to have a think before Question Time as to what kind of questions would be put to him, and then do research and prepare for his answers that would absolutely skewer them with their own quotes and official, public data.
The Keating era gave us 17 percent interest rates, massive sovereign debt of $200bfor Howard and Costello to pay off, the pretty much total loss of our manufacturing industries and the recession we had to have. Keating was CRAP. Hewson advocated a GST which Keating opposed, then it became clear that we did need a GST and it was later introduced. Keating was indeed a disaster for Australia. Can you imagine 17 percent interest rates, what a joke.
We have the Hawke Keating era for the prosperous country Australia is today . They has brains vision and a social conscience/ accord . The tired old born to rule mob were no match for the best government post War11..
Paul Keating was one of Australia’s most charismatic prime ministers. He was a visionary figure whose “big picture” ideas helped transform the Australian economy, while still pursuing socially inclusive policies. He was a skilled parliamentary performer, renowned for his excoriating put-downs and wit. Keating played a major role in transforming Australian political debate. He highlighted the role of markets in restructuring the economy, engagement with Asia, Australian national identity and the economic benefits of social inclusion. As Treasure and Prime Minister 1. Floating the Australian dollar. 2. Opening the Australian economy to global competition. 3. Launching Medicare. 4. Striking IR agreement with unions. 5. Giving the Commonwealth power over World Heritage sites. 6. Saving Tasmania's Franklin River from damming. 7. Banning uranium mining at Jabiluka, Arnhem Land. 8. Outlawing gender discrimination in the workplace.
the keating government left howard and costello a budget deficit of $14 billion and net debt of $83 billion. The policy settings left in place meant with neutral budgets the government had a surplus within 2 years . Marcro economic policy of the hawke keating governments setup the following decade of massive government surpluses and debt reduction through large increases in corporate and personal tax revenues . the GST implemented by howard and costello as their only major economic reform over the decade generated only a small amount government income uplift as it was structured around tax reforms and simplification to maintain revenue neutrality.
@@AlistairMaxwell77 Govt debt was exploding in 1996. Keating handed Howard a trashed budget and a trashed economy. Within 12 months Howard was running surplus budgets and reducing govt debt. Howard is the only govt since 1972 to reduce govt debt. in fact he took debt to ZERO by 2007 Keating was a disaster. Unemployment was at 11% when he was PM
