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阿宝政府的政策几乎是自由党75~83年Malcolm Fraser政府的翻版,Malcolm Fraser政府最终把澳洲带入经济危机,希望阿宝政府的政策走好运。
Main article: Fraser Government
At the 1975 election, Fraser led the Liberal-Country Party Coalition to a landslide victory. The Coalition won 30 seats from Labor to gain a 55-seat majority, which remains to date the largest in Australian history. Fraser subsequently led the Coalition to a second victory in 1977, with only a very small decrease in their vote. The Liberals actually won a majority in their own right, something that even Robert Menzies had not been able to achieve. Although Fraser thus had no need for the support of the (National) Country Party to govern, he retained the formal Coalition between the two parties.
Fraser quickly dismantled some of the programs of the Whitlam Government, such as the Ministry of the Media, and made major changes to the universal health insurance system Medibank. He initially maintained Whitlam's levels of tax and spending, but real per-person tax and spending soon began to increase. He did manage to rein in inflation, which had soared under Whitlam. His so-called "Razor Gang" implemented stringent budget cuts across many areas of the Commonwealth Public Sector, including the Australian Broadcasting Corporation (ABC).[13]
Fraser practiced Keynesian economics during his time as Prime Minister,[14] in part demonstrated by running budget deficits throughout his term as Prime Minister.[15] He was the Liberal Party's last Keynesian Prime Minister. Though he had long been identified with the Liberal Party's right wing, he did not carry out the radically conservative program that his political enemies had predicted, and that some of his followers wanted. Fraser's relatively moderate policies particularly disappointed the treasurer, John Howard, as well as other ministers who were strong adherents of emerging free market neo-liberal economics,[14] and therefore detractors of Keynesian economics. The government's economic record was marred by rising double-digit unemployment and double-digit inflation, creating "stagflation", caused in part by the ongoing effects of the 1973 oil crisis.
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