Opinion

1988-89 cabinet papers capture triumph and turmoil of Hawke-Keating government

If he could rewind his political career and have another go at any part of it, Paul Keating would surely choose the period between two of the most memorable of the vivid one-liners that defined his political personality.

Geoff KitneyColumnist

Updated Jan 4, 2015 – 5.53am, first published at Jan 2, 2015 – 5.30am

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In August 1988, delivering the first federal budget to be brought down in the New Parliament House, Paul Keating made arguably his most famous boast: "This is the one that brings home the bacon."

Just over two years later, in November 1990, Keating responded to the news that the economy had just suffered its second successive quarter of contraction with his most bitter confession: "This is the recession Australia had to have."

Geoff Kitney was a senior national affairs writer and columnist based in Canberra. Connect with Geoff on Twitter.