Changing Fortunes

Treasury has been at the centre of every major economic policy issue the Australian Government has faced, its role evolving from the government's bookkeeper at Federation in 1901 to the economic policy advising agency it is today. Throughout its history Treasury has been a robust and stable institution with a consistent market-oriented economic framework - but its policy influence has waxed and waned. It has supported reformist Treasurers such as Keating and Costello, and been a voice of caution