Fed: PM says economy exceeds Menzies golden era

AAP General News (Australia)
12-07-1999
Fed: PM says economy exceeds Menzies golden era

CANBERRA, Dec 7 AAP - Australia's economy was now in a stronger position than it was
at the end of the Menzies era, Prime Minister John Howard today told his MPs.

Sir Robert Menzies' 16-year reign, which ended in 1966, is often regarded as the golden
era of Australia's economy, not least by Mr Howard.

But the Prime Minister told MPs the Australian economy was highly protected when his
political hero was in power, and that today's economy was built on much firmer footings.

"We're now enjoying a period of soundly based, sustained economic growth," a spokesman
for the coalition joint party meeting told reporters.

"And in the sense that we're not now highly protected, we in fact have a much stronger
economy than the end of the Menzies period."

With today's joint party meeting likely to be the last before the parliament rises
for the Christmas break, Mr Howard told government members the year had been a great success.

"He said that the year was finishing with the government in a strong position," the
spokesman said.

"He said that we had achieved much more than the most optimistic could have expected
at the beginning of the year."

Mr Howard was referring to the passage of the government's tax legislation, strong
economic growth, improvements in unemployment and Australia's role in East Timor.

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KEYWORD: HOWARD ECONOMY

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