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Cabinet papers 1990: lessons from the recession we didn’t have to have

  • Written by The Conversation
imageEven in the midst of the economic downturn Keating was keen to defend the surplus.Dave Hunt/AAP

Australia’s last formal recession ended in the September quarter of 1991. Once it sunk in that this was a serious economic downturn, treasurer Paul Keating famously referred to it as “the recession Australia had to have”. This narrative...

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