Buy custom The Great Depression in Australia
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| Topic: |
History
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| Number of pages / Number of words: |
4 / 969 |
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This deflationary policy helped Britain by paying Australia's debts back but was not successful in solving Australia's problems. Edward Theodore was Labor treasurer he suggested an inflationary policy which would print more money and increase government spending on public works to create more employment...
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However the Commonwealth bank refused to put more money into the economy. As a result the Labor party lost the election in December 1931. From 1930 to 1932 Jack Lang was Premier of New South Wales. He suggested spending money on social service, relief work and not paying loans back to banks until later...
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