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| Topic: |
History
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| Number of pages / Number of words: |
3 / 677 |
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Australia eventually recovered as export prices began to rise.
Inflation is an increase of the currency of a country by issuing more printed money.
Sir Otto Niemeyer
James Scullin the labour government invited Sir Otto Niemeyer to study Australia's problems. Niemeyer was from the Bank of England and was to advise the Government...
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His strategy was to create reductions in wages and improvements in productivity to balance the budget. He said that Australia had been living beyond what was needed and had to cut costs, spend less and start refunding its loans.
Premier's plan
The State Premiers and Federal government met for an emergency conference and on May 25th 1931...
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