Aha! so it's official the John Howard (Little Johnny) Government
was a “profligate spender” and after the Liberal/National Party, is always bragging that "there good at managing money", well that assumption has been totally wrong!
According to the International Monetary Fund and I quote from the ABC News Website:
ABC NEWS
11/01/2013
"Former prime minister John Howard has rejected the idea his
government was a "profligate spender", following new analysis showing Australia's most wasteful spending in recent
decades took place under his leadership.
An International Monetary Fund working paper has examined the financial records of 55 countries, drawing upon what it claims to be the "most comprehensive" database currently available.
It has identified just four periods between 1913 and 2011 during which it identifies "fiscal profligacy" in Australia's financial policies, and only two of those have occurred in the past five decades.
According to the analysis, both happened during John Howard's prime ministership - in 2003, and from 2005 to 2007.
The next most recent occasion was in 1960 under the leadership of former Liberal prime minister Robert Menzies, although it adds that Menzies government was noticeably prudent in 1950.
While the paper acknowledges there is no "precise" definition of prudence or profligacy, it has looked at government spending, revenue, interest repayments, government debt, and gross domestic product (GDP).”
According to the International Monetary Fund and I quote from the ABC News Website:
ABC NEWS
11/01/2013
An International Monetary Fund working paper has examined the financial records of 55 countries, drawing upon what it claims to be the "most comprehensive" database currently available.
It has identified just four periods between 1913 and 2011 during which it identifies "fiscal profligacy" in Australia's financial policies, and only two of those have occurred in the past five decades.
According to the analysis, both happened during John Howard's prime ministership - in 2003, and from 2005 to 2007.
The next most recent occasion was in 1960 under the leadership of former Liberal prime minister Robert Menzies, although it adds that Menzies government was noticeably prudent in 1950.
While the paper acknowledges there is no "precise" definition of prudence or profligacy, it has looked at government spending, revenue, interest repayments, government debt, and gross domestic product (GDP).”
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