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Queensland Economic Advocacy Solutions

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Bob Hawke - Architect of 28 years of uninterrupted economic growth

Australia’s 28 years of uninterrupted economic growth can directly be attributed to Bob Hawke, Prime Minister of Australia 1983 – 1991.  His economic reform agenda is unrivalled and characterised by:

  1. Floating what was a bloated Australian dollar thereby making our exporters globally competitive;
  2. Reducing tariff barriers and subsidies and opening the Australian economy to global competition;
  3. Reducing inflation and union strike action through the Prices and Incomes Accords;
  4. Reforming taxation through the introduction of the capital gains tax and fringe benefits tax but also dramatically reducing company tax by 10 per cent;
  5. A substantial privatisation agenda including that of the Commonwealth Bank of Australia and Qantas and in turn promoting greater and fairer competition;
  6. Introducing the Superannuation Guarantee of 3 per cent (now 9.5 per cent) that has led to the accumulation of $2.7 trillion in assets and finance for the Australian economy and property market;
  7. Deregulating Australia’s finance industry through opening Australia to foreign banks and financial institutions; and
  8. Introducing the Higher Education Contribution Scheme (HECS) enabling numerous Australians to go to University who have in turn contributed to our economy.

Australia’s economy is infinitely stronger today because of the vision of Bob Hawke.

Finally my personal favourite memory of Bob Hawke was when we won the America’s Cup in 1983 see here: 

https://www.youtube.com/watch?v=s8mdHO2_Zo8

This for me represents who he was: a charismatic union man at heart in the first sentence and a wise head leading a nation in the second sentence.

 

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