The Liberals did not have an economic philosophy in the 1963 budget either.

Much of the recent economic policy of the Liberal Party has been taken from the 1961 Labor Party election platform.

Much of the recent economic policy of the Liberal Party has been taken from the 1961 Labor Party election platform.

There have been large deficits – even though they have been hidden from the public eye by exceptional loan results – and there has been a rapid increase in public spending.

There have been few tax cuts.

A new emphasis has been placed on development spending and defense.

There has been an increased interest in the provision of social services.

Another part of the government’s recent economic policy measures has reflected the success of the party country in promoting the sectoral interests that the party represents.

The subsidy to wheat growers has increased from around £ 7 million in 1962-63 to £ 11.6 million this year.

In addition, there are the subsidies for superphosphate, the increased investment allowance for primary producers, and other benefits.

It might not be too drastic a definition of the government’s current economic policy to say that it is an expression of the guiding principles of the 1961 Labor Party election platform, tempered by the need to respond to the country’s Party demands. .

Where does that leave the Liberal Party?

He surely leaves the party where it really has been for some time now – in a philosophical vacuum.

Any party that needs to effectively lead Australia through today’s dangerous and urgent times needs to know where it is going and where it wants the country to go.

Australia now finds itself in a most dangerous position in the world it lives in – the world of South Asia and the South Seas.

Internally, the country faces major challenges such as the need for accelerated national development, for education, for the formulation of sound policies to address issues such as the growing role played by investments abroad.

Mere derivative policies or simple reactions to ad hoc administrative pressures will not suffice for the needs of the time.


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