Changing fortunes : a history of the Australian Treasury

Tilley, Paul2019

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Summary

Treasury has been at the centre of every major economic policy issue the Australian Government has faced, it's evolving from the government's bookkeeper at Federation to the economic policy advising agency it is today. Treasury has proven to be a robust institution with a consistent market-orientated economic framework-but its policy influence has waxed and waned. It has supported reformist Treasurers such as Keating and Costello, and been a voice of caution when political imperatives have pushed governments down economically damaging paths. At times, though, Treasury advice has been ignored and it has been pushed out into the cold. Amidst the political chaos of recent times, Treasury has been dragged close to government and in the process become less effective policy adviser. The consequences lack of a consistent government economic reform narrative over the last decade is plain for all to see. Changing Fortunes tracks Treasury's history since Federation, with a focus on the odern era post the 1976 split with Finance.