Lisa,
The last time the Coalition was in power prior to 1996 was 1975-1983. A very different economic climate and very different economy to the one we have and are faced over the last 7-8 years.
From a very centralised, tightly controlled economy, insulated through fixed exchange rates and a regulated banking system we have transformed ourselves to one of the more resilient, flexible and better peforming economies in the developed world for many years now.
No doubt the Hawke-Keating government had the fortitude to introduce a floating excahnge rate, deregulate the banking industry, all of which were recommended by the Campbell Commission in 1980 which Fraser didn’t want to implement (and noteworthy, that Howard as Tresurur, always did).
On the performance issues on budgetary policy between Coalition v Labor, we have had consistent surpluses over the last 6-7 years, whilst the Labour party went back and forward many times whilst in government. At the end of the day, it is more important with what you do with the surplus that just having acheived it. It is a means to an end. Debt reduction, infrastructure investment etc.
At the end of the day…it is your money Ralph!.
James
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