Arthur Fadden: Treasurer in a golden age
Sir Arthur Fadden served as treasurer for nine years and brought down eleven budgets. In his first budget he faced the challenges of funding military expenditure in World War II. Returning to the Treasury in the early 1950s, there were again challenging times as the Korean war boom exacerbated inflationary pressures. In response Fadden brought down the 'horror budget', the first explicitly Keynesian approach to fight inflation. Critics called it 'too much, too late' but inflation was squashed...[Show more]
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