Wayne Swan

Last updated

Swan in 2008 WayneSwan.jpg
Swan in 2008

Following Labor's landslide win in the 2007 federal election, Swan was appointed Treasurer of Australia by Kevin Rudd on 3 December 2007. [16]

Swan's first budget concentrated on inflationary pressures in the economy, with substantially reduced spending that exceeded the A$11 billion outlaid for tax cuts. The policy debate shifted around August 2008 after mortgage lending banks in the United States began to collapse and economic activity faltered as American investments were written off. In response to the resulting global downturn, Swan coordinated an "economic security strategy" worth $10 billion in October 2008. Designed as a stimulus package and directed towards retail sales, it was largely supported by the International Monetary Fund. When the December quarterly growth report showed the economy contracting, he moved ahead with the Nation Building and Jobs Plan to provide government-sponsored work worth A$42 billion. This action was widely credited with preventing Australia from following much of the world into recession, as the March 2009 quarterly growth report showed that the economy had returned to growth.

On 20 September 2011, Swan was named Finance Minister of the Year by Euromoney magazine, joining Paul Keating as the only Australian Treasurer to have been conferred that title. [2] [3]

In March 2012, Swan became the first treasurer or deputy prime minister to be ejected from the House of Representatives, after he referred to Andrew Robb, the then-opposition finance spokesperson, as "Curly", in reference to The Three Stooges. [17] [18] [19] [20]

In an essay published in The Monthly magazine in March 2012, Swan criticised the rising influence of vested interests, in particular paying attention to mining entrepreneurs Clive Palmer, Gina Rinehart and Andrew Forrest, and how Swan believed they are threatening Australia's egalitarian social contract. [21] and a subsequent address to the National Press Club, [22] In The Monthly essay he opined:

The latest example of this is the foray by Australia’s richest person, Gina Rinehart, into Fairfax Media, reportedly in an attempt to wield greater influence on public opinion and further her commercial interests at a time when the overwhelming economic consensus is that it's critical to use the economic weight of the resources boom to strengthen the entire economy.

Politicians have a choice: between exploiting divisions by promoting fear and appealing to the sense of fairness and decency that is the foundation of our middle-class society; between standing up for workers and kneeling down at the feet of the Gina Rineharts and the Clive Palmers.

For every Andrew Forrest who wails about high company taxes and then admits to not paying any, there are a hundred Australian businesspeople who held on to their employees and worked with government to keep the doors of Australian business open during the GFC. Despite the howling of a small minority, the vast bulk of the resources industry is in the cart for more efficient profits-based resource taxation which serves to strengthen our entire economy. The vast majority of our miners accept that they have a social obligation to pay their fair share of tax on the resources Australians own.

Deputy Prime Minister

Wayne Swan, Barack Obama and Julia Gillard toast at a dinner at Parliament House in 2011 Barack Obama and Julia Gillard toast Nov 16 2011.jpg
Wayne Swan, Barack Obama and Julia Gillard toast at a dinner at Parliament House in 2011

On 23 June 2010, Deputy Prime Minister Julia Gillard challenged Kevin Rudd for the leadership of the Labor Party. Realising that he no longer had enough support to retain his position, Rudd resigned the following day, allowing Gillard to be elected unopposed. Swan stood to fill the vacant position of Deputy Leader, and was also elected unopposed. He was sworn in as Deputy Prime Minister of Australia later that day. Days later, Swan attended the G20 Toronto Summit in Gillard's place. [23] He would regularly stand in for Gillard as Acting Prime Minister for the next three years.

Resignation and retirement

Swan resigned from his positions to return to the backbench following the return of Kevin Rudd to the leadership in June 2013. After Labor lost the 2013 federal election, he remained in Parliament and retained his seat at the 2016 federal election. On 10 February 2018, he announced that he would not contest the 2019 federal election and that he would retire from politics. [24]

Personal collection

Swan donated his personal collection [25] of records to the State Library of Queensland's John Oxley Library. The collection reflects the history of Swan's time in public office and in particular is a record of his experience as: Secretary of the Queensland Labor Party (1991–1993) Federal MP and Member for the seat of Lilley from 1993 to 1996, 1998–2019, Treasurer of Australia (2007–2013), Deputy Prime Minister and Deputy Leader of the ALP (2010–2013) and National President of the Australian Labor Party (2018–present). A substantial part of the collection relates to the Global Financial Crisis of 2008–2009 and is highly significant given that Australia was a key contributor to G20 discussions. The collection includes photographs, correspondence, campaign materials and political documents. [26] In 2021 the State Library produced a digital story with Swan. [27] The interview by Dennis Atkins covers Swan's time in public office and his life before and after politics as well as the Global Financial Crisis of 2008–09 and Swan's role in the implementation of an effective domestic stimulus response to the crisis. [28]

Later activities

Swan in 2018 WayneSwan2018.jpg
Swan in 2018

In June 2018, Swan was elected national president of the ALP, defeating incumbent president Mark Butler. According to Guardian political editor Katharine Murphy, he "prevailed in a contest where the left faction normally dominates by appealing to progressive rank-and-file ALP members courtesy of his relentless campaigning on inequality". [29] He was re-elected to a further term as president in April 2023. [30] In June 2024 he publicly criticised the Albanese government's Future Gas Strategy, stating that Australia should not be expanding gas production. [31]

In August 2021, it was announced that Swan would be appointed chairman of Cbus, a superannuation fund associated with the construction industry, with effect from January 2022. He replaced former Victorian premier Steve Bracks in the role. [32] In November 2024, the Australian Securities and Investments Commission (ASIC) sued Cbus over claims that it had mishandled disability and death benefit claims. Swan was subsequently called to give testimony on the matter before the Senate Economics Committee, during which he publicly apologised for the delays in payments of claims. [33] [34]

Books

Personal life

Swan is married to Kim and has three children. [37] An earlier marriage, when he was 21, lasted for one year. [37]

At age 48, Swan was diagnosed with prostate cancer but has since fully recovered. He has become an advocate for the prostate cancer public awareness campaign. [38]

Swan has admitted to smoking cannabis. [39]

See also

References

  1. ↑ Rodgers, Emma (24 June 2010). "Gillard ousts Rudd in bloodless coup". ABC News. Archived from the original on 29 August 2023. Retrieved 29 August 2023.
  2. 1 2 "Press release: Australia's Wayne Swan named Euromoney's finance minister of the year". Euromoney. 20 September 2011. Archived from the original on 29 August 2023.
  3. 1 2 Uren, David (21 September 2011). "Wayne Swan named world's best Treasurer by Euromoney magazine". The Australian. Retrieved 17 March 2012.
  4. ↑ Thompson, Jeremy (21 September 2011). "Swan named world's best treasurer". ABC News. Archived from the original on 29 August 2023.
  5. ↑ Griffiths, Emma (26 June 2013). "Kevin Rudd defeats Julia Gillard 57–45 in Labor leadership ballot, paving way for a return to PM". ABC News . Australia. Archived from the original on 29 August 2023. Retrieved 26 June 2013.
  6. ↑ Fraser, Andrew (5 December 2006). "Genesis of an ideas man" . The Australian. Retrieved 17 March 2012.
  7. ↑ Atkins, Dennis (2 August 2008). "Wayne Swan and Kevin Rudd seek government reform". The Courier-Mail. Archived from the original on 31 December 2012. Retrieved 21 August 2008.
  8. ↑ Swan, Wayne (21 August 2007). "Australian Treasurer". Sunday (Interview: transcript). Interviewed by Laurie Oakes. Nine Network. Retrieved 21 August 2008.[ dead link ]
  9. ↑ Karvelas, Patricia (14 August 2007). "'Kick Swan out' for Democrats donation" . The Australian. Archived from the original on 3 December 2007. Retrieved 23 June 2010.
  10. ↑ Sanderson, Wayne (27 November 2000). "Preferential treatment". 7.30 Report. Australia. Archived from the original (transcript) on 7 April 2010. Retrieved 23 June 2010.
  11. ↑ Royal, Simon (29 November 2000). "Tracking the money path of the Swan donation". 7.30 Report. Australia. Archived from the original (transcript) on 27 September 2008. Retrieved 23 June 2010.
  12. ↑ Pearson, Christopher (23 July 2002). "Why Wayne Swan will not realise the ALP leadership" . The Age. Australia. Retrieved 23 June 2010.
  13. ↑ Schubert, Misha (14 August 2007). "Costello attacks Swan over Democrats money" . The Age. Archived from the original on 29 August 2023. Retrieved 29 August 2023.
  14. ↑ Toohey, Paul (17 April 2007). "Swan's Song". The Bulletin. pp. 17–23. Archived from the original on 8 July 2012. Retrieved 10 January 2008.
  15. ↑ Donald, Peta; Colvin, Mark (13 November 2007). "Labor says Coalition spending will raise inflation". PM (ABC Radio). Australia. Archived from the original (transcript) on 22 January 2021. Retrieved 5 December 2007.
  16. ↑ "Rudd hands out portfolios". Australia: ABC News. 29 November 2007. Archived from the original on 29 August 2023. Retrieved 29 August 2023.
  17. ↑ "Swan removed after 'Curly' call". YouTube. ABC News. 20 March 2012. Retrieved 16 July 2022.
  18. ↑ Daley, Gemma (21 March 2012). "Nyuk-nyuk: Swan's out" . Australian Financial Review. Retrieved 16 July 2022.
  19. ↑ Hudson, Phillip. "Wayne Swan kicked out of Parliament". The Australian. News Corp. Retrieved 16 July 2022.
  20. ↑ Hudson, Phillip. "Swan gets the boot from Slipper". The Advertiser. News Corp. Retrieved 16 July 2022.
  21. ↑ Swan, Wayne (2 March 2012). "The 0.01 Per Cent: The Rising Influence of Vested Interests in Australia" . The Monthly. Retrieved 17 March 2012.
  22. ↑ "Swan launches second assault on mining billionaires". PM (ABC Radio). Australia. 5 March 2012. Archived from the original (transcript) on 13 June 2020. Retrieved 17 March 2012.
  23. ↑ O'Malley, Sandra (26 June 2010). "Swan to take International Stage at G20" . The Sydney Morning Herald. Retrieved 6 April 2011.
  24. ↑ Dziedzic, Stephen; Doran, Matthew (10 February 2018). "Former treasurer Wayne Swan to bow out of federal politics". ABC News. Archived from the original on 29 August 2023. Retrieved 10 February 2018.
  25. ↑ CC BY icon-80x15.png This Wikipedia article incorporates CC BY 4.0 licensed text from: "32178 Wayne Swan Papers". State Library of Queensland Catalogue. State Library of Queensland . Retrieved 29 August 2023.
  26. ↑ CC BY icon-80x15.png This Wikipedia article incorporates CC BY 4.0 licensed text from: "32178 Wayne Swan Papers". State Library of Queensland Catalogue. State Library of Queensland . Retrieved 2 June 2021.
  27. ↑ CC BY icon-80x15.png This Wikipedia article incorporates CC BY 4.0 licensed text from: "Wayne Swan in conversation with Dennis Atkins digital story and oral history". State Library of Queensland. 2020. Retrieved 29 August 2023.
  28. ↑ CC BY icon-80x15.png This Wikipedia article incorporates CC BY 4.0 licensed text from: "Wayne Swan in conversation with Dennis Atkins digital story and oral history". State Library of Queensland Catalogue. State Library of Queensland . Retrieved 2 June 2021.
  29. ↑ "Wayne Swan outpolls Mark Butler to be elected Labor national president". Guardian Australia. 18 June 2018. Retrieved 16 December 2024.
  30. ↑ Erickson, Paul (14 April 2023). "Election of ALP President and Vice Presidents". Australian Labor Party. Retrieved 16 December 2024.
  31. ↑ Middleton, Karen (7 June 2024). "'I felt your pain': Wayne Swan criticises Labor's 'future gas' strategy in address to party activists". Guardian Australia. Retrieved 16 December 2024.
  32. ↑ "Wayne Swan to chair Cbus Super". Super Review. 31 August 2021. Retrieved 16 December 2024.
  33. ↑ Wootton, Hannah (15 November 2024). "Swan says Cbus board was not too slow on payouts. ASIC disagrees" . Retrieved 16 December 2024.
  34. ↑ Ziffer, Daniel (29 November 2024). "Cbus chair Wayne Swan fronts the Senate over delayed death and disability payouts". ABC News. Retrieved 16 December 2024.
  35. ↑ Swan, Wayne (2005). Postcode: the splintering of a nation. North Melbourne: Pluto Press. ISBN   1-86403-360-6.
  36. ↑ Swan, Wayne (2014). The Good Fight: Six years, two prime ministers and staring down the Great Recession. East Melbourne: Allen & Unwin. p. 416. ISBN   9781743319352.
  37. 1 2 Hall, Louise (2 March 2008). "Treasurer Wayne Swan's first marriage didn't last long it went for about one year 'no secret'" . The Sydney Morning Herald. Retrieved 23 May 2008.
  38. ↑ Scott, Sophie (27 February 2003). "The prostate debate". 7:30 Report. Australia: ABC News. Archived from the original (transcript) on 20 September 2011. Retrieved 23 June 2010.
  39. ↑ Nicholson, Brendan (26 September 2008). "Turnbull's pot admission makes a whiff of history" . The Sydney Morning Herald.
The Honourable
Wayne Swan
Treasurer Wayne Swan, 2009, crop.jpg
Swan in 2009
25th National President of the Labor Party
Incumbent
Assumed office
18 June 2018
Parliament of Australia
Preceded by Member of Parliament for Lilley
1993–1996		Succeeded by
Preceded by Member of Parliament for Lilley
1998–2019		Succeeded by
Political offices
Preceded by Treasurer of Australia
2007–2013		Succeeded by
Preceded by Deputy Prime Minister of Australia
2010–2013		Succeeded by
Party political offices
Preceded by Deputy Leader of the Labor Party
2010–2013		Succeeded by
Preceded by National President of the Labor Party
2018–present		Incumbent
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.