COMMENTARY

This is a comprehensive paper with which I find many points of agreement. An examination of evolution in Treasury thinking provides a useful perspective on attitudes at the federal level to alternative policy approaches. A distinction needs to be drawn however, between the public perception of the Treasury rationale, and the ongoing approach within the department. While the changes in public stance that Whitwell identifies are important, I would see those as representing changes in emphasis in the Treasury approach, rather than a major recasting of Treasury thinking.