Kōrero: Treasury

John Whitehead and Peter Bushnell

John Whitehead and Peter Bushnell

Since the 1970s the Treasury has briefed incoming governments about the state of the economy and the public finances. The news is not always good. In the lead-up to the July 1984 election there was a run on the New Zealand dollar which intensified over the election weekend, and required immediate action from the incoming Labour government. After the October 1990 election, the incoming National government was informed of the imminent bankruptcy of the state-owned Bank of New Zealand, which it then had to bail out. A National-led government again took office after the election held on 8 November 2008, just seven weeks into a global financial crisis. The sombre looks of Treasury Secretary John Whitehead (right) and Deputy Secretary Peter Bushnell, on their way to meet new Prime Minister John Key four days later, was probably an accurate portrayal of their mood.

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NZPA Images
Reference: 55638
Photograph by Ross Setford

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Te tuhi tohutoro mō tēnei whārangi:

Malcolm McKinnon, 'Treasury - Economic management since 1980', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/mi/photograph/34940/john-whitehead-and-peter-bushnell (accessed 15 August 2020)

He kōrero nā Malcolm McKinnon, i tāngia i te 20 Jun 2012