http://www.businessspectator.com.au/bs.nsf/Article/Howard-era-bought-fiscal-profligacy-IMF-report-pd20130111-3TR6L?OpenDocument&src=hp25Howard era bought fiscal profligacy: IMF reportAn International Monetary Fund report on the history of global government spending has found that Australia's most profligate spending period came during the John Howard-led coalition government era in the early to mid 2000s.
The report, A Modern History of Fiscal Prudence and Profligacy, drew on historical data to gauge the spending habit of 55 global economies over almost 200 years.
It found that Australia has experienced a limited amount of periods deemed fiscally profligate over its history, with the most lengthy and recent occurring in 2003 and between 2005 and 2007.
The report made an allowance for government spending deemed necessary to stabilise the economy, including the stimulus spending of the Rudd government during the global financial crisis.
The only other years deemed profligate were during the Menzies government in 1960 and Curtin government in 1942.
Conversely, the spending of the Chifley Labor government between 1947 to 1949 and Scullin and Lyons governments between 1931 and 1935 was deemed prudent.
Posted: Mon Jan 14, 2013 12:14 am
